Nippon Prologis Reit raises $375m in follow-on

The Reit set up by the world's largest owner of industrial buildings will use the proceeds to repay bridge loans.

Nippon Prologis Reit raises $375m in follow-on

Nippon Prologis Reit NPR, the real estate investment trust set up by the world’s largest owner of industrial buildings, has raised 39.9 billion $375 million from a follow-on offering.

The Reit, managed by San Francisco-based Prologis, sold 159,050 units at 250,096 per share, a 2% discount to the September 8 closing price of 255,200 per share, according to a term sheet. The overallotment option, if exercised, will add on an additional 7,950 units, and...

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