DENVER, Nov. 10 CO-PLD-Closes-$80M
DENVER, Nov. 10 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading
global provider of distribution facilities and services, announced today that
it has closed an $80 million, secured financing with a North American life
insurance company on behalf of an affiliate of ProLogis North American
Industrial Fund (NAIF). The five-year financing has a coupon of 5.84 percent
and represents a loan-to-value of approximately 53 percent. Eight
geographically diverse, US industrial properties, owned by the fund and
managed by subsidiaries of ProLogis, are included as security for the loan.
The proceeds paid down borrowings on the NAIF warehouse line of credit.
About ProLogis
ProLogis is the world's largest owner, manager and developer of
distribution facilities, with operations in 136 markets across North America,
Europe and Asia. The company has $40.8 billion of assets owned, managed and
under development, comprising 548 million square feet (51 million square
meters) in 2,898 properties as of September 30, 2008. ProLogis' customers
include manufacturers, retailers, transportation companies, third-party
logistics providers and other enterprises with large-scale distribution needs.
Headquartered in Denver, Colorado, ProLogis employs over 1,500 people
worldwide.
SOURCE ProLogis
