DENVER, May 5, 2011 /PRNewswire/ -- ProLogis (NYSE: PLD), the leading global provider of distribution facilities, announced today that since the start on April 22, 2011 of its mandatory tender offer for ProLogis European Properties, a Luxembourg closed-ended investment fund (Euronext/Amsterdam: PEPR, hereafter "PEPR") it has received for tender or purchased in the open market 8,818 Ordinary Units carrying voting rights of PEPR. When these tenders have been accepted and the purchases completed, ProLogis will hold directly or indirectly a total of 74,122,391 Ordinary Units and 7,015,856 Perpetual Convertible Preferred Units ("Preferred Units") of PEPR. Based on information published by PEPR as to the total number of PEPR Ordinary and Preferred Units in issue, this holding will represent directly or indirectly 39 percent of PEPR's Ordinary Units corresponding to 39 percent of the voting rights attached to all PEPR Ordinary Units and 68 percent of the PEPR's Preferred Units.
ProLogis is the leading global provider of distribution facilities, with more than 435 million square feet of industrial space owned and managed (40 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 3,800 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to www.prologis.com.
ProLogis European Properties, or PEPR, is one of the largest pan-European owners of high quality distribution and logistics facilities. PEPR was established in 1999 as a closed-end, real estate investment fund, externally managed by a subsidiary of ProLogis (NYSE: PLD), a leading global provider of industrial distribution facilities. In September 2006, PEPR was listed on Euronext Amsterdam. As at 31 December 2010, PEPR has a portfolio of 232 buildings, covering 4.9 million square metres in 11 European countries, with a market value of euro 2.8 billion. The portfolio has an occupancy level of 94.5% and an average of 3.4 years to the next lease break or 5.3 years to lease expiry.