ProLogis European Properties completes expansion of French facility, adding 12,000 square metres of leasable space
02/07/2007
2 July 2007 – Luxembourg – ProLogis
European Properties (Euronext: PEPR), Europe’s largest owner
of modern distribution facilities, announced today that it has
completed the 12,000 square metre expansion of a distribution
facility in Central France, leased to the logistics and
distribution subsidiary of Redcats, a leading home-shopping
retailer.
The facility, located in the city of Blois, south of Orleans, was
purchased by PEPR as a newly developed facility in December
2006. The expansion, undertaken at the request of Redcats,
adds an additional 12,000 square metres onto the 43,400 square
metre facility.
PEPR’s total investment in the 55,400 square metre
distribution centre will be approximately €29 million and is
expected to provide an initial yield of 7.47 percent. The new lease
term is six years.
Robert Watson, chief executive officer of ProLogis European
Properties, said “We are delighted to have the opportunity to
extend our relationship with Redcats and expand this facility in
line with the requirements of our customer. We believe our ability
to expand existing facilities on adjacent land will enable us to
continue to add significant value to our portfolio of assets across
Europe.”
Redcats is one of the world’s largest home-shopping
retailers. The company has operations in 28 countries and sells
products through a portfolio of catalogues, internet sites and
specialty stores. Redcats 17 brands include La Redoute in France,
Empire Stores in Great Britain and Lane Bryant and Chadwick’s
in the United States. In 2006, company sales totalled just over
€4.3 billion. Redcats is a subsidiary of PPR, a French
distributor of luxury and retail products.
For further information, please contact:
Investor relations
ProLogis European Properties +44 20 7518 8708
Jennifer van der Eem, VP Investor Relations
jvandereem@prologis.com
Media
M:Communications +44 20 7153 1523 or 7153 1549
Ed Orlebar / Charlotte McMullen
orlebar@mcomgroup.com /
mcmullen@mcomgroup.com
About ProLogis European Properties (PEPR)
ProLogis European Properties, or PEPR, which listed on Euronext
Amsterdam on 22 September 2006, is the largest pan-European owner
of high quality distribution and logistics facilities.
PEPR's portfolio of real estate is located in 25 submarkets within
11 European countries. Established in 1999, PEPR is a real
estate investment fund (organised as a Luxembourg closed-ended
fonds commun de placement) externally managed by a subsidiary of
ProLogis, the largest U.S. based real estate investment trust that
operates a global network of industrial distribution
properties.
As at the end of March 2007, PEPR owned 292 distribution facilities
covering approximately 5.7 million square metres of leasable
space. PEPR’s customers are large third party logistic
service providers as well as a broad range of companies in the
retail and manufacturing sectors.
PEPR results for the quarter and year ended 31 December 2011
PEPR results for the quarter and year ended 31 December 2011 (81KB)
08 February 2012
