Nippon Prologis Reit targets $378m in follow-on

Books open for a 167,000 unit sale in Nippon Prologis Reit, the latest J-Reit looking to tap capital markets.

Nippon Prologis Reit targets $378m in follow-on

Nippon Prologis Reit NPR, a real estate investment trust set up by the world’s largest owner of industrial buildings, aims to raise up to 39.3 billion $378 million in a follow-on offering.  

The Reit, managed by San Francisco-based Prologis, will sell up to 167,000 primary units with a discount of 2% to 4.5% to the August 25 close of 240,000, according to a term sheet. Bankers began taking orders on Tuesday. Prologis will...

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