As long-term strategic advisor since ProLogis’ inception, M3 has helped the company to expand from North America to Europe and Asia, and to develop a global operating business via diverse private equity strategies.
Founded in 1991, ProLogis is a logistics-focused REIT listed on the New York Stock Exchange (Ticker: PLD):
- Equity market capitalization of approximately $8.3 billion1;
- Member of the S&P 500 since 2003.
M3 has advised ProLogis on 22 transactions totaling $14.8 billion over 18 years, including raising $7.8 billion of third party equity from 47 distinct North American, European, Asian, Middle Eastern and Australian institutional investors.
Today, ProLogis is the largest global owner, operator and developer of distribution facilities:
- Manages more than 2,522 facilities, leased to over 4,400 customers in 18 countries and 105 markets in North America, Europe and Asia;
- $34 billion of assets owned, managed and under development across ProLogis’ 44 million square meter real estate portfolio.
As strategic advisor to Regency Centers since 1996, M3 has worked with the company to execute a broad spectrum of capitalization and growth strategies, helping it to achieve scale and an international capital base1.
Regency Centers is a fully-integrated owner, operator and developer of grocery-anchored and community shopping centers across the U.S., listed on the New York Stock Exchange (Ticker: REG):
- Equity market capitalization of approximately $3.4 billion2;
- Member of the S&P MidCap 400.
M3 has advised Regency Centers on multiple transactions with a total capitalization in excess of $7.0 billion over the past 15 years, including:
- Entity-level private placements, asset-level joint ventures, raising an institutional private equity fund and merger, acquisition and disposition advisory projects;
- $1.3 billion of third party equity raised from leading, global institutional real estate investors, of which approximately 50% was non-domestic capital.
Today, Regency Centers is a sector-leading shopping center company:
- Portfolio of approximately 53.1 million square feet across 399 retail properties in 30 states; and
- Since 2000, developed 201 shopping centers with $3.0 billion completion value.
2 January 2011.
UNITE Group Plc
M3 began discussions with UNITE Group in 2003, and has since advised the company on creating a long-term funding model, helping to transform the business into a leading UK student accommodation developer and co-investing manager.
M3 helped UNITE Group source capital to fund the acceleration of its expansion program in two stages:
- A 2005-vintage, £70 million (equity) development joint venture with the Government of Singapore Investment Corporation1 to develop and operate student accommodation, primarily in Edinburgh and London; and
- Subsequent fundraisings in 2006 / 2007 and 2008 for the UNITE UK Student Accommodation Fund, a stabilized asset investment vehicle that has become the dominant conduit for institutional investment into the UK student accommodation sector and is the UK’s second-best performing specialist real estate fund2.
As strategic advisor, M3 has raised approximately £500 million of third party institutional capital for UNITE Group, from 79 distinct UK, European and Asian investors3 across three transactions.
UNITE Group is now the UK’s leading developer and manager of student accommodation, providing modern, purpose-built homes to over 40,000 students between 24 university towns and cities across the UK. It is a member of the FTSE 250 Index of the London Stock Exchange (Ticker: UTG).
2 Source: Association of Real Estate Funds (measured over three years to June 2010).
3 Underlying clients of investment managers counted separately.