{"id":1004183083,"date":"2017-07-06T02:09:01","date_gmt":"2017-07-06T10:09:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183083"},"modified":"2022-12-08T14:49:36","modified_gmt":"2022-12-08T22:49:36","slug":"prologis-to-buy-out-brazilian-jv-partner-for-362m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/","title":{"rendered":"Prologis to Buy Out Brazilian JV Partner for $362M"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

\"Prologis<\/a>

Prologis CCP logistics facility in Cajamar, Sao Paulo State, Brazil<\/p><\/div>\n

Prologis Inc. has entered into an agreement to acquire its partner\u2019s interest in its Brazilian portfolio for R$1.2 billion (US$362 million), the company announced Tuesday. On the transaction\u2019s closing, Prologis will own 100 percent of Prologis CCP and rename the business to Prologis Brazil.<\/p>\n

Prologis CCP is a joint venture between Prologis and Cyrela Commercial Properties. It\u2019s a leading provider of industrial real estate in Brazil\u2019s primary markets and owns and operates about 8.8 million square feet.<\/p>\n

The Brazilian portfolio comprises 20 properties and is on average 90.1 percent occupied, according to information provided to Commercial Property Executive<\/em> by a Prologis spokesperson. Prologis declined to otherwise comment on the transaction.<\/p>\n

Cyrela\u2019s portfolio focuses on corporate buildings, shopping malls and logistics centers in the Rio de Janeiro\u2013Sao Paulo area, as well as in other Brazilian state capitals.<\/p>\n

The transaction is subject to customary closing conditions, including applicable regulatory approvals, and is expected to close in the second half of this year.<\/p>\n

A busy year for Prologis<\/h2>\n

As usual, Prologis has been busy with deals across the globe. In January, it announced that one of its funds would be acquiring a European JV<\/a> between Prologis and Allianz Real Estate, for about $611 million. As part of the deal, Allianz boosted its stake in the merged fund, to the tune of about $208 million.\u00a0<\/p>\n

And in February, Prologis announced a new development venture<\/a> in the United Kingdom, a partnership with CBRE Global Investment Partners. The venture is intended to invest at least $1.2 billion in develop-to-own logistics projects in the East and West Midlands, London and the South East.<\/p>\n","protected":false},"excerpt":{"rendered":"

Upon closing, during the second half of the year, the company will own a full interest in 20 industrial properties, with an average occupancy of 90 percent. <\/p>\n","protected":false},"author":882,"featured_media":1004183093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,16,21783,21742],"tags":[36612,32789,32956],"class_list":["post-1004183083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-international","category-investment","category-latest","tag-allianz-real-estate","tag-cbre","tag-prologis"],"acf":[],"yoast_head":"\nPrologis to Buy Out Brazilian JV Partner for $362M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prologis to Buy Out Brazilian JV Partner for $362M\" \/>\n<meta property=\"og:description\" content=\"Upon closing, during the second half of the year, the company will own a full interest in 20 industrial properties, with an average occupancy of 90 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-06T10:09:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:49:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Prologis-CCP-logistics-facility-in-Cajamar-Sao-Paulo-State-Brazil.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"835\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/\",\"name\":\"Prologis to Buy Out Brazilian JV Partner for $362M - 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He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Prologis to Buy Out Brazilian JV Partner for $362M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/","og_locale":"en_US","og_type":"article","og_title":"Prologis to Buy Out Brazilian JV Partner for $362M","og_description":"Upon closing, during the second half of the year, the company will own a full interest in 20 industrial properties, with an average occupancy of 90 percent.","og_url":"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-07-06T10:09:01+00:00","article_modified_time":"2022-12-08T22:49:36+00:00","og_image":[{"width":835,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Prologis-CCP-logistics-facility-in-Cajamar-Sao-Paulo-State-Brazil.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/","url":"https:\/\/www.commercialsearch.com\/news\/prologis-to-buy-out-brazilian-jv-partner-for-362m\/","name":"Prologis to Buy Out Brazilian JV Partner for $362M - 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