PEPR announces disposal in the UK
06/10/2011
Luxembourg – 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@prologis.com
Media
M:Communications
Charlotte McMullen
+44 20 7920 2349
mcmullen@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 Extraordinay General Meeting - March 2012