Prologis, Inc. (NYSE:PLD) Nareit REITweek: 2025 Investor Conference Call June 4, 2025 10:15 AM ET
Company Participants
Daniel Stephen Letter – President & Director
Timothy D. Arndt – Chief Financial Officer
Conference Call Participants
Michael Goldsmith – UBS Investment Bank, Research Division
Michael Goldsmith
Well, thank you, and good day, everyone. Welcome to the Prologis fireside chat. I’m Michael Goldsmith, the U.S. REIT analyst at UBS.
I am pleased to introduce Dan Letter, President and CEO of Parent; and Tim Arndt, CFO of Prologis, the world’s leading industrial — real estate company in the industrial space for the last 40 years. Company owns 1.3 billion square feet of industrial warehouse property across 20 different countries, and we’re truly honored to have them here today.
As a reminder, if you have a cell phone, please turn it off. We don’t want any disruptions. Before we start, I’m required to read the legal disclaimers. Research analysts are required to provide certain disclosures relating to the nature of our own relations with UBS. Any company on the call today, these are available at ubs.com/disclosure alternatively, please reach out [indiscernible] after the presentation.
Dan, Tim, thanks so much for speaking with us today. Maybe for those who are new to the story, can you provide a brief overview of the company and highlight what differentiates Prologis.
Daniel Stephen Letter
Yes, sure. Thank you. So you hit upon some of the highlights there. We are the global leader in logistics real estate. We own 1.3 billion square feet, nearly 6,000 buildings in 20 countries. Those countries are responsible for about 78% of the world’s GDP. When you think about Prologis, think about really 4 businesses that we’re in. We’re in our operating business. That’s the 1.3 billion square feet of operating assets. We have a development business, a very large development business. We have a 22-, 23-year history, develop almost $50 billion worth
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