International Herald Tribune, 23 Dec 2008, The Associated Press
NEW YORK: Industrial real estate investment trust ProLogis said Tuesday it has agreed to sell its Chinese operations and the remaining stake in its Japanese property funds to a Singapore government-owned real estate company for $1.3 billion in cash.
The Denver-based company said it expects the transaction for the Chinese properties will close in January, pending certain conditions. ProLogis expects to lose about 4 percent to 6 percent of the book value of the assets, which include some properties still under construction, interests in joint ventures and one property fund.
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ProLogis to Sell Asian Assets - The Wall Street Journal, 23 Dec 08
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ProLogis Exits Asian Market for $1.3B - Globst.com, 23 Dec 08
ProLogis to sell China operations and Japan stake - Reuters UK, 23 Dec 08
ProLogis to sell off China operations - Bizjournals.com, 23 Dec 08
Singapore buys U.S. firm property interests - Xinhua, 24 Dec 08
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