ProLogis
PEPR is externally managed by a subsidiary of ProLogis (NYSE: PLD), is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs.
Together with the expertise of its own management team, PEPR’s relationship with ProLogis gives it exclusive access to the “best in class” operator and the opportunity to make investments in ProLogis’ extensive development pipeline in Europe. At the end of September 2009, ProLogis’ existing pipeline includes some €1.3 billion of properties completed or under development and 7,615 acres of land owned or controlled in Europe.
ProLogis uses its extensive customer relationships, global perspective and highly experienced associates to seek the best lease terms available for PEPR, to manage its costs effectively and to thereby optimise the performance of its portfolio. As at 30 September 2009, ProLogis had a team of some 317 locally managed associates across Europe.
ProLogis’ significant ownership stake in PEPR ensures that, as an external manager, its interests are fully aligned with those of PEPR’s unitholders. At the end of September 2009, ProLogis held a 24.9% interest in PEPR. In order to maintain alignment with Unitholders over the longer term, PEPR’s Management Regulations stipulate that ProLogis must maintain an aggregate ownership of not less than 10% of the issued ordinary units.
Sustainable Investment
PEPR is committed to being a socially responsible business and strives to continually improve the environmental performance of its portfolio. Climate change and building sustainability have become high priority issues across Europe, where it complies with both stricter regulations and with the environmental demands of its customers. These customers as well as an increasing number of socially responsible investors are emerging as a key force driving the sustainability movement.
ProLogis, PEPR’s external manager, is a global leader in sustainable warehouse construction and is currently the only real estate company to have joined the Chicago Climate Exchange. Through their management of PEPR’s direct portfolio and the investment in ProLogis developments, through ProLogis European Properties Fund II, PEPR strives to be a European leader in environmental best practice in the industry.
For more information on ProLogis visit www.prologis.com.
