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VIEW FROM PROLOGIS HQ, Pier 1 San FranciscoAs the first full year of operation following the merger ofProLogis and AMB Property Corporation, 2012 was a significant– and productive - milestone for the company. As well as PELP,Prologis announced the formation of a Japanese investmentvehicle, while other global achievements included a recordleasing volume of 145 million square feet and $1.6 billion ofnew development starts.Hamid Moghadam, the Prologis Chairman and CEO explained,“Our business continued to strengthen as global demandfor high quality logistics facilities increased, due to growingconsumption and supply chain reconfiguration.”The formation of PELP, which on closing acquired a stabilisedportfolio of 195 Prologis properties totalling around 49 millionsquare feet, underlines the growing strength of the Europeanmarket as well as the value of Prologis’ facilities and itsoperating expertise.The joint venture is Norges Bank’s first investment in theindustrial sector and as Karsten Kallevig, chief investmentofficer for real estate, NBIM said, “We are very pleased to beteaming up with a partner of Prologis’ calibre as we enter themarket for industrial real estate and we look forward to workingtogether on future endeavours.”Hamid MoghadamPrologis Chairman and CEO