Prologis, a absolute acreage aggregation and absolute acreage broker Ivanhoé Cambridge accept formed an $890 actor collective adventure in Brazil. Prologis Brazil Acumen Adventure will advance and accomplish acumen absolute acreage in Brazil, accurately in São Paulo and Rio de Janeiro.
SAN FRANCISCO, Nov. 5, 2018 /PRNewswire/ — Prologis, Inc. (NYSE: PLD), the all-around baton in acumen absolute estate, and all-around absolute acreage broker Ivanhoé Cambridge today appear an acceding to anatomy a 20/80 collective adventure in Brazil.
Prologis Brazil Acumen Adventure will advance and accomplish acumen absolute acreage in Brazil, accurately in São Paulo and Rio de Janeiro. At closing, the adventure will access an antecedent portfolio of assets of about 6.9 actor aboveboard anxiety of operating backdrop and 371 acreage of acreage from Prologis’ antithesis area with a charge to body out the absolute acreage bank.
“We are actual aflame to abide architecture our awful acknowledged Brazil business with Ivanhoé Cambridge, a new cardinal accomplice that brings all-encompassing acquaintance in Brazil accurately and in all-around absolute acreage generally,” said Gene Reilly, Prologis’ CEO of the Americas. “With this venture, we are added well-positioned to accommodated the growing appeal for avant-garde acumen amplitude – as added than 40 percent of the country’s GDP is amid in São Paulo and Rio de Janeiro.”
Rita-Rose Gagné, President, Growth Markets for Ivanhoé Cambridge added: “We accept been advance in Brazil back 2006 and abide to do so with a abiding view. The affection of our ally and assets are key. We are captivated to accomplice with Prologis, the arch all-around acumen company, to advance in the growing acumen area of Brazil. This adventure aligns with our all-around access to decidedly access our investments in the automated and acumen amplitude in key markets about the world.”
The transaction is accountable to accepted closing conditions, including applicative authoritative and third-party approvals.
ABOUT PROLOGISPrologis, Inc. is the all-around baton in acumen absolute acreage with a focus on high-barrier, high-growth markets. As of September 30, 2018, the aggregation endemic or had investments in, on a wholly endemic abject or through co-investment ventures, backdrop and development projects accepted to absolute about 771 actor aboveboard anxiety (72 actor aboveboard meters) in 19 countries. Prologis leases avant-garde administration accessories to a assorted abject of about 5,500 barter beyond two above categories: business-to-business and retail/online fulfillment.
ABOUT IVANHOÉ CAMBRIDGEIvanhoé Cambridge develops and invests in high-quality absolute acreage properties, projects and companies that are abstraction the burghal t in activating cities about the world. It does so responsibly, with a abiding appearance to accomplish optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating active spaces that advance the abundance of bodies and communities, while abbreviation its ecology footprint.
Vertically chip in Canada, Ivanhoé Cambridge invests internationally alongside cardinal ally and above absolute acreage funds that are leaders in their markets. Through subsidiaries and partnerships, the Aggregation holds interests in added than 1,000 buildings, primarily in the residential, office, retail, automated and acumen sectors. Ivanhoé Cambridge captivated added than C$60 billion in assets as at June 30, 2018 and is a absolute acreage accessory of the Caisse de dépôt et adjustment du Québec (cdpq.com), one of Canada’s arch institutional armamentarium managers. For added information: ivanhoecambridge.com.
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