Prologis China Core Logistics Fund acquires five assets in China
Prologis China Core Logistics Fund (PCCLF) has agreed to acquire a portfolio of five assets across four logistics gateways in China.
The acquisitions will expand the fund’s footprint into some of the strongest markets in China and extend the fund’s coverage from 16 to 18 cities.
This is also in line with the fund’s strategy to concentrate on the consumption end of the supply chain. Today, nearly 97 percent of the fund’s assets focus are on Last Touch and City/Regional Distribution facilities. The core fund, which has an occupancy above 97 percent, has recorded a trailing 12-month gross return of 14.7 percent.
“China continues to be an important market for us and we’re always looking for new assets in the right locations that can help to drive the Fund’s growth,” said Alan