Friday, July 27, 2012

REPORT: Prologis could sell U.S. industrial properties worth $800 mil this year

Prologis, the world's largest owner of industrial property, could reportedly sell approximately $800 million worth of U.S. properties by the end of this year.

"We're not selling anything that we weren't going to sell anyway," said Prologis' Co-Chief Executive Officer Hamid Moghadam in an interview with Bloomberg.

Moghadam said a seller's market environment could prompt the more aggressive timetable for adding to the already $450 million worth of property sold in the Americas this year by the San Francisco-based real estate company.

"The stuff that we're selling is clearly not in the best markets, and within the better markets it's certainly not the best assets," Moghadam said.

For the full Bloomberg story: bloomberg.com

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