Global logistics real estate company Prologis, Inc. announced that it has completed $25 billion of investment activity on an owned and managed basis in 2020.
”From the ProLogis – AMB merger in 2011 to year-end 2020, Prologis has completed investment transactions totaling over $131.4 billion in 30 global markets,” the company said in a statement.
“Despite the disruption and uncertainty of this past year, investment activity across our global platform continued unabated, reflecting the strong demand for high-quality logistics real estate in the best locations around the world,” said Hamid R. Moghadam, chairman and CEO, Prologis. “Our portfolio and development-ready land bank near large population centers continue to be a competitive advantage for our customers.”
Details of investment activity in FY 2020;
- Mergers & Acquisitions – $17bn
- Development Starts – $2.7bn
- Building Acquisitions – $2.0bn
- Building & Land Dispositions – $1.5bn
- Contributions – $1.8bn
- Value Creation from Stabilizations (PLD Share) – $0.9bn
Prologis names Dan Letter as Global Head of Capital Deployment
Prologis has created a new senior role to bolster its growing global capital deployment efforts. The company has appointed Dan Letter as global head of Capital Deployment effective January 1, 2021.
Letter will report to Prologis chief investment officer Eugene F. Reilly. Letter will responsible for the company’s Investment Committee process, capital deployment forecasting, deployment pipeline management and multi-market portfolio acquisitions and dispositions.
Letter was previously president of the company’s Central Region, a role being assumed by Prologis veteran Carter Andrus. Letter joined AMB in 2004, and has since served in multiple Capital Deployment roles in the Central and West Regions.
“Dan has consistently achieved outstanding financial results, demonstrated excellent leadership and led the way in numerous customer-focused initiatives, including Prologis’ global Urban Last Touch® program and its digital transformation,” said Reilly. “This new role places more senior-level resources behind our investment activities globally at a time when the logistics real estate sector is becoming more complex and attracting greater demand from our customers and investors.”