Prologis looks back on a good Q1/2020
Real estate developer Prologis has assessed its operating performance in Europe for Q1/2020. While the company posted higher rental revenue than expected in the first quarter, it forecasts falling growth rates in this segment for the full year.
On 31 March 2020, Prologis' global portfolio comprised 4,660 buildings covering up to 90 million sqm, which the company has leased to 5,500 customers. The European portfolio contains 756 buildings and a total area of 18.5 million sqm. At the end of Q1/2020, the letting rate amounted to 96%.
In Germany, the company's portfolio spanned a total logistics area of 2.38 million sqm, spread over 101 buildings.
Overall, Prologis Europe developed 106,384 sqm of new estate in Q1/2020, 84.1% of which were build-to-suit projects in major logistics markets and in proximity to large commercial centres. (mw)