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Nippon Prologis REIT prices investment unit issuance

Nippon Prologis REIT Inc., which is managed by a Prologis Inc. subsidiary, priced a domestic placement of 77,400 investment units and an international placement of 51,600 investment units at ¥224,812 per unit.

The Japanese logistics-focused real estate investment trust plans to use the proceeds to repay bridge loans used to buy five Japanese properties for roughly ¥61.90 billion.

The issuance is expected to close March 12 in Japan.

Prologis will retain its 15% stake in Nippon Prologis REIT, according to a release.

As of March 2, US$1 was equivalent to ¥105.54.