PEPR announces disposal in the UK
(Thomson Reuters ONE) -
News release
PEPR announces disposal in the UK
Luxembourg - 6 October 2011 - ProLogis European Properties (Euronext: PEPR), one
of Europe's largest owners of modern distribution facilities, announced today
that it has completed the sale of a 10,400 square metre building in Basingstoke,
south west of London, to Sainsbury's Supermarkets Ltd ("Sainsbury's"), one of
the UK's leading food retailers. The building has been occupied by Sainsbury's
since 2004. Proceeds from the sale will be used to further delever the business.
Peter Cassells, CEO of PEPR, commented: "We are pleased to have agreed this
transaction with a highly valued UK customer on a building that has been an
important part of Sainsbury's distribution chain. We look forward to further
developing our working relationship with Sainsbury's in the UK market."
"The transaction reflects the strong demand that we are seeing for high-quality
logistics assets. Furthermore, the disposal is in line with PEPR's objectives to
actively manage the portfolio to optimise value and reduce overall leverage to a
more conservative level.
-Ends-
For further information, please contact:
Investor relations
Jennifer Crooke
+44 207 518 8708
jcrooke(at)prologis.com
Media
M:Communications
Charlotte McMullen
+44 20 7920 2349
mcmullen(at)mcomgroup.com
About ProLogis European Properties (PEPR)
ProLogis European Properties, or PEPR, is one of the largest pan-European owners
of high quality distribution and logistics facilities. PEPR was established in
1999 as a closed-end, real estate investment fund, externally managed by a
subsidiary of Prologis, Inc. (NYSE: PLD), a leading global provider of
industrial distribution facilities. In September 2006, PEPR was listed on
Euronext Amsterdam.
As at 30 June 2011, PEPR has a portfolio of 232 buildings, covering 4.9 million
square metres in 11 European countries, with a market value of ?2.8 billion. The
portfolio has an occupancy level of 93.2% and an average of 3.3 years to the
next lease break or 5.2 years to lease expiry.
PEPR announces disposal in the UK :
http://hugin.info/139145/R/1552575/478393.pdf
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Source: ProLogis European Properties via Thomson Reuters ONE
[HUG#1552575]
Unternehmensinformation / Kurzprofil:
Datum: 06.10.2011 - 09:18 Uhr
Sprache: Deutsch
News-ID 73318
Anzahl Zeichen: 3121
contact information:
Town:
Luxembourg
Kategorie:
Business News
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