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ProLogis Raises $840m in Asset Sales
Jul 01, 2009ProLogis [stock PLD][/stock] injected good news into a struggling commercial real estate (CRE) market by raising $840m from asset sales and property fund contributions for the second quarter of 2009. As part of an effort to cut global debt, ProLogis, which leases industrial space to manufacturers and retailers, sold 136 CRE properties from Seattle to Washington DC, in 28 separate transactions. From the sales, ProLogis raised $561m, and they expect to earn an extra $96m in the second half of this year.
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