Prologis' U.S. Logistics Fund: 20 Years of High-Performing Logistics Assets
Prologis, Inc. (NYSE: PLD) is celebrating the 20th anniversary of its U.S. Logistics Fund (USLF), a private flagship investment fund with $24 billion in assets under management. Since its inception in 2004, USLF has consistently delivered high returns and played a important role in the growth of logistics investments across the United States.
Key highlights of USLF's performance include:
- Strong outperformance with low leverage
- Average operating occupancy of 96.8% over the past 10 years
- Attracted 127 institutional investors from 15 countries
- Funded $2.9 billion in redemption requests
- Expanded from 4.5 MSF in 8 markets to over 125 MSF in 28 markets
USLF remains positioned for future growth, focusing on high-value logistics centers in key U.S. hubs and investing in innovative technologies to enhance its portfolio.
Prologis, Inc. (NYSE: PLD) celebra il 20° anniversario del suo U.S. Logistics Fund (USLF), un fondo d'investimento privato di riferimento con 24 miliardi di dollari di attivi in gestione. Dalla sua creazione nel 2004, l'USLF ha costantemente offerto alti rendimenti e ha svolto un ruolo importante nella crescita degli investimenti logistici negli Stati Uniti.
Tra i principali risultati delle performance dell'USLF ci sono:
- Una forte sovra-performance con un basso indebitamento
- Un tasso medio di occupazione operativa del 96,8% negli ultimi 10 anni
- Attratto 127 investitori istituzionali da 15 paesi
- Finanziati 2,9 miliardi di dollari in richieste di riscatto
- Espanso da 4,5 milioni di piedi quadrati in 8 mercati a oltre 125 milioni di piedi quadrati in 28 mercati
L'USLF rimane ben posizionato per la crescita futura, concentrandosi su centri logistici di alto valore in hub chiave degli Stati Uniti e investendo in tecnologie innovative per potenziare il proprio portafoglio.
Prologis, Inc. (NYSE: PLD) celebra el 20.º aniversario de su U.S. Logistics Fund (USLF), un fondo de inversión privado insignia con 24 mil millones de dólares en activos bajo gestión. Desde su creación en 2004, el USLF ha entregado consistentemente altos retornos y ha desempeñado un papel importante en el crecimiento de las inversiones logísticas en los Estados Unidos.
Los aspectos más destacados del rendimiento del USLF incluyen:
- Un fuerte desempeño con bajo apalancamiento
- Promedio de ocupación operativa del 96.8% en los últimos 10 años
- Atrajo a 127 inversores institucionales de 15 países
- Financió 2.9 mil millones de dólares en solicitudes de rescate
- Se expandió de 4.5 millones de pies cuadrados en 8 mercados a más de 125 millones de pies cuadrados en 28 mercados
El USLF sigue estando posicionado para el crecimiento futuro, enfocándose en centros logísticos de alto valor en los principales núcleos de EE. UU. e invirtiendo en tecnologías innovadoras para mejorar su cartera.
프로로지스, 인크. (NYSE: PLD)는 2억 4천만 달러의 자산을 관리하는 미국 물류 펀드(USLF)의 20주년을 기념합니다. 2004년 설립 이후 USLF는 지속적으로 높은 수익률을 제공하며 미국 전역의 물류 투자 성장에 중요한 역할을 해왔습니다.
USLF 성과의 주요 하이라이트는 다음과 같습니다:
- 낮은 레버리지로 강한 성과
- 지난 10년 간 평균 운영 점유율 96.8%
- 15개국에서 127명의 기관 투자 유치
- 레디션 요청에 29억 달러 지원
- 8개 시장에서 4.5MSF에서 28개 시장에서 125MSF 이상으로 확장
USLF는 미래 성장을 위해 미국 주요 허브의 고부가가치 물류 센터에 집중하고 포트폴리오를 향상시키기 위해 혁신적인 기술에 투자하고 있습니다.
Prologis, Inc. (NYSE: PLD) célèbre le 20e anniversaire de son U.S. Logistics Fund (USLF), un fonds d'investissement privé phare avec 24 milliards de dollars d'actifs sous gestion. Depuis sa création en 2004, l'USLF a constamment offert des rendements élevés et a joué un rôle important dans la croissance des investissements logistiques aux États-Unis.
Les points clés de la performance de l'USLF incluent:
- Une forte surperformance avec un faible effet de levier
- Taux d'occupation opérationnelle moyen de 96,8% au cours des 10 dernières années
- A attiré 127 investisseurs institutionnels venant de 15 pays
- A financé 2,9 milliards de dollars en demandes de rachat
- Élargi de 4,5 millions de pieds carrés dans 8 marchés à plus de 125 millions de pieds carrés dans 28 marchés
L'USLF reste bien positionné pour une croissance future, se concentrant sur des centres logistiques de grande valeur dans des hubs clés aux États-Unis et investissant dans des technologies innovantes pour améliorer son portefeuille.
Prologis, Inc. (NYSE: PLD) feiert das 20-jährige Bestehen seines U.S. Logistics Fund (USLF), einem privaten Flagship-Investmentfonds mit 24 Milliarden Dollar an verwaltetem Vermögen. Seit seiner Gründung im Jahr 2004 hat der USLF kontinuierlich hohe Renditen erwirtschaftet und eine wichtige Rolle im Wachstum logistischer Investitionen in den Vereinigten Staaten gespielt.
Zu den wichtigsten Höhepunkten der Performance des USLF gehören:
- Starke Überrendite bei geringer Verschuldung
- Durchschnittliche operative Belegungsrate von 96,8% in den letzten 10 Jahren
- 127 institutionelle Investoren aus 15 Ländern gewonnen
- 2,9 Milliarden Dollar in Rückzahlungsanfragen finanziert
- Von 4,5 Millionen Quadratfuß in 8 Märkten auf über 125 Millionen Quadratfuß in 28 Märkten erweitert
Der USLF ist weiterhin gut positioniert für zukünftiges Wachstum und konzentriert sich auf hochwertige Logistikzentren in wichtigen US-Drehkreuzen sowie auf Investitionen in innovative Technologien zur Verbesserung seines Portfolios.
- USLF has consistently delivered outsized returns over 20 years
- Average operating occupancy of 96.8% in the past 10 years, outperforming the market by 160 bps
- Attracted 127 institutional investors from 15 countries
- Funded 100% of redemption requests totaling over $2.9 billion
- Expanded from 4.5 MSF in 8 markets to over 125 MSF in 28 markets
- None.
Insights
The 20-year milestone of Prologis' U.S. Logistics Fund (USLF) showcases a remarkable track record in the logistics real estate sector. With
The fund's ability to attract 127 institutional investors from 15 countries and fulfill
For Prologis (NYSE: PLD) shareholders, USLF's success underscores the company's strength in strategic capital management and its ability to generate value through private investment vehicles. This diversified revenue stream and proven expertise in logistics real estate bode well for Prologis' long-term growth prospects and financial stability.
The USLF's 20-year performance exemplifies the long-term value proposition of prime logistics real estate. The fund's focus on high-value urban infill locations in major U.S. logistics hubs has been a key driver of its success. This strategy aligns perfectly with the ongoing shift towards e-commerce and last-mile delivery, which demand strategically located distribution centers.
Prologis' commitment to innovation, including investments in renewable energy, mobility solutions and data analytics, positions USLF at the forefront of the evolving logistics landscape. These initiatives not only enhance the value of existing assets but also future-proof the portfolio against changing market dynamics and sustainability requirements.
The fund's consistent outperformance of market occupancy rates by 160 basis points over the past decade demonstrates superior asset selection and management. For investors, this translates to lower vacancy risk and more stable cash flows, essential qualities in the cyclical real estate sector.
"We have been privileged to serve and partner with our USLF investors over the past two decades," said Hamid R. Moghadam, chief executive officer and co-founder of Prologis. "USLF not only offers the highest-quality logistics real estate portfolio in
Some of the key performance highlights over the past two decades:
- Strong Record of Outperformance: Since its inception, USLF has consistently delivered outsized returns, positioning it as a leading performer in logistics real estate. This performance is particularly noteworthy given the fund's low leverage over its 20-year history, minimizing reliance on borrowed capital. USLF's best-in-class debt ratings have also enabled the fund to secure favorable financing terms, further enhancing returns across various market cycles.
- Consistent High Occupancy: In the past 10 years, the average operating occupancy of the fund was
96.8% , outperforming the market by 160 bps, driven by the strength of its assets and locations as well as Prologis' customer-centric approach. - Strong Investor Confidence: USLF has attracted capital from a diverse range of 127 institutional investors from 15 countries, demonstrating high trust in its growth potential and long-term value. Since 2004, USLF has provided market-leading liquidity to its investors by funding
100% of redemption requests totaling more than$2.9 billion - Continued Growth and Strategic Expansion: USLF's tight, focused investment strategy has been key to its success, selectively expanding from 4.5 MSF in 2004 in eight markets to more than 125 MSF in 28 markets today. With assets in some of the most sought-after urban infill locations in key
U.S. logistics hubs, includingSouthern California ,New Jersey ,Chicago andAtlanta , USLF remains concentrated on high-value logistics centers. The rise of e-commerce has further driven the growth of the fund.
Looking ahead to its third decade, USLF remains positioned for future growth and success as Prologis continues to innovate to deliver value to investors in a rapidly changing industry. With significant investments in proprietary research, data analytics, renewable energy, mobility and other value-enhancing capital improvements to its buildings, Prologis is providing fund investors with access to a best-in-class and future-proofed logistics real estate portfolio.
"We take a customer-centric approach to every part of our business, including our private investment funds. With USLF, we have curated a portfolio of modern logistics properties that is unrivaled in the industry," said Karsten Kallevig, global head of Strategic Capital. "While we are proud of USLF's accomplishments over the years, we are even more excited about what the future holds for our partnership with our investors."
About Prologis Strategic Capital
Prologis' Strategic Capital business is an integral line of business for the company, with
Prologis Strategic Capital offers institutional investors a unique opportunity to invest with the company. Benefitting from the scale and scope of the Prologis platform, each of the company's 10 funds focus on delivering industry-leading, risk-adjusted returns along with a superior investor experience. Prologis' investment vehicles have specific geographic and risk profiles, targeting logistics real estate in high-consumption and high-barrier-to-entry markets.
Prologis is a material investor in all its Strategic Capital funds, with co-investment levels ranging from 15 percent to 55 percent. As a general partner, the company provides investors security through its durable A-rated balance sheet, best-in-class global portfolio and customer-centric focus.
* Data as of June 30, 2024. AUM is the fair value of real estate properties and development projects in the Strategic Capital business and includes our estimate of the gross value of real estate that could be acquired using existing equity commitments from Prologis and our partners assuming target leverage levels are used. Assets Under Management: Representing
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,700 customers principally across two major categories: business-to-business and retail/online fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects" "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.
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SOURCE Prologis, Inc.
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