Prologis, Inc., the global leader in industrial real estate, announced that Prologis European Properties Fund II ("PEPF II") has acquired a portfolio of approximately 230,000 m² in the Czech Republic, Poland and Slovakia.
The portfolio encompasses 23 Class-A distribution centers, including: 17 properties totaling 163,000 m² in Prague. Four properties totaling 55,40 m² in Warsaw and two properties totaling 11,600 m² in Bratislava.
"We are pleased to acquire such well-located logistics facilities at a discount to replacement costs," said Philip Dunne, president, Prologis Europe. "These high-quality assets complement our existing portfolio. The Prague assets, in particular, are in a long-established park that will benefit from an increase in labor availability in the years to come."
Prologis owns and manages approximately 14.3 million m² of logistics and distribution space in Europe as of June 30, 2014.