Business Services Industry
Macquarie ProLogis spends $157m in US, Mexico.
Australasian Business Intelligence, September, 2002
Sep 30, 2002 (The Australian Financial Review - ABIX via COMTEX)
The Macquarie ProLogis Trust has purchased industrial estates in the US and Mexico. In September 2002, it spent around $US86 million ($A157.1 million) for the four industrial estates. The trust is jointly run by Macquarie Bank in Australia and the US-based ProLogis. The purchase is part of an ongoing move to acquire significant industrial properties. In under four months, the Macquarie ProLogis Trust has bought an interest in 45 properties across the US and Mexico. The Trust raised $US130 million in an initial public offering earlier in 2002. Any extra funds will be used to retire debt. The Trust has first right of refusal over all of the industrial development stock of ProLogis.
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