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| ProLogis completes the sale of one-third investment in PEPF II ProLogis European Properties, Europe's largest owner of modern distribution facilities, announced the completion of the sale of its remaining investment and future commitment to ProLogis European Properties Fund II (PEPF II) to six institutional investors. Gross proceeds of €14.4 million in addition to the elimination of €174m of future commitments implies a 28% discount to December 2008 investment value. This disposal, combined with the sale of the initial two-thirds stake in PEPF II in December 2008, decreases PEPR's ownership in PEPF II to zero. Overall, the disposal of the entire position relieves PEPR of the obligation to fund further investments of €522 million in PEPF II before August 2010. write your comments about the article :: © 2009 Construction News :: home page |