Prologis Raises $610 Mln For Prologis European Properties Fund II

(RTTNews) - Prologis Inc. (PLD), the global owner, operator and developer of industrial real estate, announced that Prologis European Properties Fund II or PEPF II has received new capital commitments of 450 million euros or $610 million after opening to new investors for the first time.

The company noted that Investor demand exceeded the offering amount and fundraising closed ahead of its mandated period.

In September, PEPF II accepted final capital commitments to reach the 450 million euros or $610 million equity cap for the offering, which includes 125 million euros or $167 million of additional capital committed by Prologis. Approximately 70 percent of the equity came from new investors.

Subsequent to the raise, almost half of the 450 million euros has been deployed into acquisitions from Prologis and third parties.

As of June 30, 2013, PEPF II owned more than 220 properties covering 5.2 million square meters across 12 European countries.