Brazilian Pension Fund Snags 90% Stake In Prologis Hub

Law360, New York (November 9, 2011, 9:12 PM EST) -- Industrial real estate company Prologis Inc. has gained a major Latin American backer, selling a 90 percent stake in a major logistics hub in Brazil to PREVI, the Bank of Brazil’s pension fund, Prologis announced Wednesday.

PREVI acquired the interest in the Prologis CCP Cajamar Industrial Park, a development near Sao Paulo, Brazil, consisting of seven logistics facilities, Prologis said. The terms of the investment are confidential.

Nick Kittredge, general manager of Prologis' Brazilian division, said the investment reflected the value of the real estate investment...
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