ProLogis is a real-estate investment trust that acquires and develops warehouses in markets in North America, Europe and Asia. The Denver-based company owns 1,500 properties. Its fund-management operations oversee the long-term investment of property. Since going public in 1994, ProLogis has grown from $400 million in assets under management in the U.S., to a global portfolio of properties in 18 countries, comprising more than $32 billion in assets.
ProLogis was named America’s No. 1 most admired real-estate company of 2008 by Fortune magazine. Like many companies, ProLogis was hit hard by the global recession in 2008. The company put a stop to new development plans and Jeffrey Schwartz resigned as CEO. He was replaced by president and chief operating officer Walter Rakowich. ProLogis sold most of its Asia operations to help pay off debt. The company is planning layoffs.
Community involvement is a core value at ProLogis. The company manages the ProLogis Foundation, a charitable organization established in 2001. Through the foundation, ProLogis provides funding to social-service organizations and matches employees’ contributions to colleges and universities. Through its volunteer program, every employee gets two paid days each year for volunteer efforts.