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Article: ProLogis Reduces Japan Risk - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- September 1, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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ProLogis Reduces Japan Risk - Analyst Blog
ProLogis
(
PLD
), a leading global provider of distribution facilities, recently agreed to jointly manage, own and develop its distribution properties in Japan with a local company. The move is chiefly aimed at reducing its operating risk in the country, given continued weakening of the global economy.
ProLogis has signed the deal with Japan Logistics Fund Inc. – the only real estate investment trust (REIT) in the country that primarily focuses on logistics companies. Japan Logistics Fund is managed by the asset management firm Mitsui & Co. Logistics Partners Ltd.
With this deal, ProLogis will jointly own part of the ...