BB&T Capital Markets Serves as a Co-Manager on Prologis, Inc.’s Senior Note Offering

Transaction Summary

BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2018, helping to raise €700,000,000 for our client.

The Company intends to use the net proceeds of the offering to reduce indebtedness and for general corporate purposes.

About the Companies

Prologis, Inc. (“PLD” or the “Company”) is a global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2018, the company owned or had investments in properties and development projects expected to total approximately 685 million square feet (64 million square meters) in 19 countries. PLD leases modern distribution facilities to a diverse base of approximately 5,000 customers across two major categories: business-to-business and retail/online fulfillment.

Real Estate

The BB&T Capital Markets Real Estate Group is led by an experienced banking team focused on serving the broad needs of Real Estate Investment Trusts (REITs) and private real estate sponsors. Our corporate and investment bankers are experts in all aspects of REITs and commercial real estate, allowing us to provide a comprehensive suite of capital markets solutions ranging from corporate lending, equity and debt underwriting, joint venture equity placements, and merger and acquisition advisory. This unique teaming enables us to serve clients with financing options that are optimized for their specific needs and strategic initiatives.

Core services include at-the-market (ATM) offerings, entity-level recapitalizations, follow-on equity offerings, initial public offerings, joint venture equity, merger and acquisition (M&A) advisory, preferred stock offerings, sale leasebacks, senior debt offerings, and stock repurchase programs.

About BB&T Capital Markets

BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.

  • Welltower, Inc. (NYSE: WELL)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2018, helping to raise $1,300,000,000 for our client.

    The Company intends to use the net proceeds of the offerings to repay indebtedness and for general corporate purposes, including investing in health care and seniors housing properties.

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  • Ventas, Inc. (NYSE: VTR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2018, helping to raise $750,000,000 for our client.

    The Company intends to use the net proceeds, together with cash on hand and borrowings under its unsecured revolving credit facility, to repurchase the 4.75% senior notes due 2021 and for working capital and other general business purposes.

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  • Rexford Industrial Realty, Inc.(NYSE: REXR)

    BB&T Capital Markets’ Real Estate Group is participating in a transaction for a real estate investment trust, helping to raise up to $400,000,000 for our client.

    The Company intends to use net proceeds from this offering to fund potential acquisition opportunities, repay indebtedness, fund its development or redevelopment activities, and/or for general corporate purposes.

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  • Prologis, Inc. (NYSE: PLD)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2018, helping to raise €700,000,000 for our client.

    The Company intends to use the net proceeds of the offering to reduce indebtedness and for general corporate purposes.

    Read More
  • Plymouth Industrial REIT, Inc. (NYSEAM: PLYM)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2018, helping to raise a total of $17,200,000 for our client.

    The Company intends to use the net proceeds of this offering for future acquisitions and for general corporate and working capital purposes.

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  • Digital Realty Trust, Inc. (NYSE: DLR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2018, helping to raise $650,000,000 for our client.

    The Company intends to use the net proceeds of the offering to reduce indebtedness and general corporate purposes.

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  • Alexandria Real Estate Equities, Inc. (NYSE: ARE)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2018, helping to raise $900,000,000 for our client.

    The Company intends to use the net proceeds of the offering to fund eligible green projects, including the development and redevelopment of such projects, reduce indebtedness, and for general corporate purposes.

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  • Prologis, Inc. (NYSE: PLD)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2018, helping to raise $700,000,000 for our client.

    The Company intends to use the net proceeds of the offering to reduce indebtedness and for general corporate purposes. 

     

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  • Mid-America Apartment Communities, Inc. (NYSE: MAA)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the second quarter of 2018, helping to raise $400,000,000 for our client.

    The Company intends to use the net proceeds of the offering to partially repay their revolving credit facility and for general business purposes, including debt repayment and the purchase, development and redevelopment of apartment communities.

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  • Realty Income Corporation (NYSE: O)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $500,000,000 for our client.

    The Company intends to use the net proceeds of the offering to partially repay outstanding debt on the company's $2.0 billion revolving credit facility. The remaining funds will be used to finance potential investment opportunities and for other general business purposes.

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  • AvalonBay Communities, Inc. (NYSE: AVB)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $300,000,000 for our client.

    The Company intends to use the net proceeds of the offering to reduce indebtedness and for general corporate purposes.

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  • Regency Centers Corporation (NYSE: REG)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $300,000,000 for our client.

    The Company intends to use the net proceeds of the offering to repay indebtedness and for general corporate purposes.

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  • Essex Property Trust, Inc. (NYSE: ESS)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $300,000,000 for our client

    The Company intends to use the net proceeds to repay indebtedness and for other general corporate and working capital purposes.

    Read More
  • National Retail Properties, Inc. (NYSE: NNN)

    BB&T Capital Markets’ Real Estate Group is participating in a transaction for a real estate investment trust, helping to raise up to $450,000,000 for our client.

    The Company intends to use net proceeds from this offering to repay outstanding indebtedness under its credit facility, to fund potential property acquisitions or for other general corporate purposes.

    Read More
  • Highwoods Properties, Inc. (NYSE: HIW)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $350,000,000 for our client.

    The Company intends to use the net proceeds to repay or repurchase outstanding debt and for general corporate purposes.

    Read More
  • Ventas, Inc. (NYSE: VTR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $650,000,000 for our client.

    The Company intends to use the net proceeds, along with cash on hand and / or borrowings under its unsecured revolving credit facility, to fund a cash tender offer for its 4.00% senior notes due 2019 and for other corporate purposes.

    Read More
  • Senior Housing Properties Trust (Nasdaq: SNH)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $500,000,000 for our client.

    The Company intends to use the net proceeds from this offering to reduce amounts outstanding under their revolving credit facility.

    Read More
  • Equity Residential (NYSE: EQR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $500,000,000 for our client.

    The Company expects to use the net proceeds from this offering for working capital and general company purposes, including partial repayment of the combined outstanding balance
    under their unsecured revolving credit facility and notes issued under their commercial paper program.

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  • Hospitality Properties Trust (Nasdaq: HPT)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $400,000,000 for our client.

    The Company expects to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility and for general business purposes. 

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  • Americold Realty Trust (NYSE: COLD)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the first quarter of 2018, helping to raise $833,520,000 for our client and selling shareholders.

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    The Company intends to use the net proceeds from this offering to reduce the amount outstanding under its credit facility and for working capital.  The underwriters have a 30-day option to purchase an additional 3,000,000 shares to cover over-allotments.

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    The Company intends to use the net proceeds to be received upon full physical settlement of the forward sale agreement to fund pending acquisitions and current development projects, with any remaining proceeds being used for general corporate purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 900,000 shares.

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  • Cedar Realty Trust, Inc. (NYSE: CDR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $50,000,000 for our client.

    The Company's operating partnership presently intends to use the net proceeds from this offering to partially redeem outstanding shares of its Series B preferred stock. Pending such use, the net proceeds will be used to temporarily repay amounts outstanding under the operating partnership’s credit facility. The underwriters have a 30 day option to purchase an additional 300,000 shares to cover over-allotments.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $450,000,000 for our client.

    The Company expects to use the net proceeds from this offering, together with cash on hand, to fund the redemption of all of its 2.500% senior notes due 2019.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $300,000,000 for our client.

    The Company intends to use the net proceeds to fund development and for general corporate purposes, and may use a portion of the proceeds to repay borrowings under the company's revolving credit facility.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $1,350,000,000 for our client.

    The Company intends to use the net proceeds of this offering to fund the planned optional redemption at par of all $750 million aggregate principal amount of its 1.50% notes due February 2018 and for general corporate purposes.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $1,300,000,000 for our client.

    The Company intends to use the net proceeds from this offering to redeem all $550.0 million aggregate principal amount of its outstanding 2019 notes, to repay borrowings outstanding under its revolving credit facility, and for acquisitions and other general corporate purposes.

    Read More
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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $300,000,000 for our client.

    The Company intends to use the net proceeds from this offering for the repayment of debt, including to partially fund the redemption of $300 million in aggregate principal amount (plus the make-whole amount and accrued and unpaid interest) of its 4.250% senior notes due June 1, 2018, or other general corporate purposes.

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  • Life Storage, Inc. (NYSE: LSI)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $450,000,000 for our client.

    The Company intends to use the net proceeds from the offering to pay $225 million of principal owed under its $325 million unsecured term note that matures in 2020, and amounts under its unsecured line of credit.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $300,000,000 for our client.

    The Company expects to apply the net proceeds from this offering towards the redemption of the Company's senior notes due 2021. Pending such use, the net proceeds will be applied to outstanding borrowings under the company's unsecured credit facility due 2020 and may be used for other general corporate purposes.

    Read More
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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $850,000,000 for our client.

    The Company intends to use the net proceeds from the sale of the notes for the repayment of debt, including funding the redemption of the company's 3.700% senior notes due 2018, or other general business purposes, which may include acquisitions, development projects or other investment opportunities.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $750,000,000 for our client.

    The Company intends to use the net proceeds from the sale of the notes to reduce indebtedness and for general corporate purposes.

    Read More
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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $550,000,000 for our client.

    The Company intends to use the net proceeds of the offering to finance its previously announced tender offer for the $325 million notes due April 2018, and to repay amounts outstanding under its unsecured revolving credit facility. The balance of the proceeds will be used for general business purposes, which may include the repayment, repurchase or other settlement of debt.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $160,000,000 for our client.

    The Company intends to use the net proceeds from this offering to redeem all their series B preferred stock and potentially other debt, and for general corporate purposes, including acquisitions. The underwriters have a 30 day option to purchase an additional 960,000 shares to cover over-allotments.

    Read More
  • Plymouth Industrial REIT, Inc. (NYSE MKT: PLYM)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the fourth quarter of 2017, helping to raise $51,000,000 for our client.

    The preferred stock has an initial rate 7.5% plus 1.5% per annum, on and after December 31st, 2024, with a maximum dividend rate of 11.5%. The Company intends to use the net proceeds from this offering for which it intends to use $5.0 million of the net proceeds to repurchase 263,158 shares of common stock from Torchlight Investors, LLC, and for general corporate purposes, which may include funding new acquisitions. Total gross proceeds includes the partial exercise of the underwriters’ over-allotment option, through which the underwriters purchased an additional 240,000 shares.

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  • Hudson Pacific Properties, Inc. (NYSE: HPP)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $400,000,000 for our client.

    The Company intends to use the net proceeds from this offering to repay outstanding borrowings or for general corporate purposes.

    Read More
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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $50,000,000 for our client.

    The Company plans to use all the proceeds of this offering to make investments in accordance with its objectives and strategies. Prior to the time it has fully used the proceeds of this offering to make investments in its target investments, it may fund some or all of its quarterly distributions out of the proceeds of this offering. The underwriters have a 30-day option to purchase an additional 375,000 shares to cover over-allotments.

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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $77,625,000 for our client.

    The Company intends to use the net proceeds from this offering for general corporate purposes, including funding new acquisitions and repaying indebtedness. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 405,000 shares.

    Read More
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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $120,000,000 for our client.

    The Company intends to use the net proceeds from this offering to fully redeem its outstanding series A preferred shares with an aggregate liquidation preference of about $115.0 million, with any remaining proceeds to go toward general corporate purposes. The underwriters have a 30 day option to purchase an additional 720,000 shares to cover over-allotments.

    Read More
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    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $400,000,000 for our client.

    The Company intends to use the net proceeds from this offering to repay all of the outstanding debt under the Company's credit facility. Any remaining funds will go toward future property acquisitions and for general corporate purposes.

    Read More
  • CBL & Associates Properties, Inc. (NYSE: CBL)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $225,000,000 for our client.

    The Company intends to use the net proceeds from this offering to reduce amounts outstanding under CBL’s revolving credit facilities and for general corporate purposes.

    Read More
  • Alexandria Real Estate Equities, Inc. (NYSE: ARE)

    BB&T Capital Markets’ Real Estate Group is participating in a transaction for a real estate investment trust, helping to raise up to $750,000,000 for our client.

    The Company intends to initially use the net proceeds from this program for general working capital and corporate purposes, which may include reducing the outstanding balance on its unsecured senior line of credit, repaying other indebtedness, the selective development, redevelopment, or acquisition of properties, or the repurchase of its outstanding preferred stock.

    Read More
  • Cedar Realty Trust, Inc. (NYSE: CDR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $75,000,000 for our client.

    The Company's operating partnership presently intends to use the net proceeds from this offering to partially redeem outstanding shares of its Series B preferred stock. Pending such use, the net proceeds will be used to temporarily repay amounts outstanding under the operating partnership’s credit facility. The underwriters have a 30 day option to purchase an additional 450,000 shares to cover over-allotments.

    Read More
  • Healthcare Realty Trust Incorporated (NYSE: HR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise a total of $257,628,750 for our client.

    The Company intends to use the net proceeds of this offering to partially fund their acquisition of an Atlanta medical office portfolio. The Company intends to use the remaining proceeds to repay outstanding indebtedness and for general corporate purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,087,500 shares.

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  • Kimco Realty Corporation (NYSE: KIM)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $225,000,000 for our client.

    The Company intends to use the net proceeds from this offering for general corporate purposes, including repayment of debt. The underwriters have a 30 day option to purchase an additional 1,350,000 shares to cover over-allotments.

    Read More
  • Digital Realty Trust, Inc. (NYSE: DLR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $1,350,000,000 for our client.

    The Company intends to use the net proceeds from this offering to fund a portion of the repayment, redemption and/or discharge of DuPont Fabros Technology, Inc (“DFT”) debt and the payment of certain transaction fees and expenses incurred in connection with the DFT merger. Pending any net proceeds will be used to repay borrowings under its operating partnership’s global revolving credit facility, acquire additional properties or businesses, fund development opportunities and to provide for working capital and other general corporate purposes, including potentially for the repurchase, redemption or retirement of other outstanding debt or equity securities.

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  • Kimco Realty Corporation (NYSE: KIM)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $850,000,000 for our client.

    The Company intends to use the net proceeds from this offering to fund the consideration payable in its tender offer. The Company will use the excess net proceeds for general corporate purposes, including to partially reduce borrowings under its revolving credit facility maturing in March 2021.

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  • Equity Residential (NYSE: EQR)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise $700,000,000 for our client.

    The Company intends to use proceeds from the offering for general corporate purposes and working capital, including repayment of debt.

    Read More
  • Community Healthcare Trust Incorporated (NYSE: CHCT)

    BB&T Capital Markets’ Real Estate Group completed a transaction for a real estate investment trust in the third quarter of 2017, helping to raise a total of $114,611,875 for our client.

    The Company intends to use the net proceeds of this offering to repay the outstanding indebtedness under its revolving facility and to fund future acquisitions in accordance with its investment guidelines and for general corporate and working capital purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 637,500 shares.

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