ProLogis gets Japanese funding
Denver-based ProLogis, a third-party logistics provider of distribution services and facilities, said it has obtained a 24.5 billion yen – $208 million – three-year revolving line of credit to help develop a series of facilities in Japan.
This strategy, which ProLogis said it has used successfully to fund its expansion efforts in Europe, permits ProLogis to maintain management of its properties in Japan and enhance returns by utilizing private sources of capital to fund its growth.
To date, ProLogis has a network of 1,709 distribution facilities – operating or under development – throughout North America, Europe and Japan, totaling some 200.4 million square feet of distribution space.