Iranian by birth, the boss of Prologis has forged an investment empire in the land of Uncle Sam.
Educated at Stanford and MIT, Moghadam cut his teeth at the Homestake Mining Company, before co-founding the AMB Property Corporation in 1983, a real-estate company he would take all the way to the stock exchange in 1997.
AMB Property Corporation merged with Prologis in 2011 with Moghadam becoming CEO of the new company, Prologis the following year. This merger of equals saw the creation of the largest logistics real-estate investment fund in the United States.
The San Francisco headquartered company has gone from strength to strength with Moghadam at the helm. In 2013, Nippon Prologis REIT, a Japanese real estate investment trust formed by Prologis, successfully completing an IPO on the Tokyo Stock Exchange. Also that year, Prologis European Logistics Partners, a joint venture with Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global, closed an initial acquisition of 195 Class-A properties in Europe.
"In February Prologis made news with the $13 billion acquisition of Liberty Property, which came hot on the heels of the purchase of industrial Property Trust for $4 billion"
A recent report found that $2.2 trillion in throughput moved through Prologis warehouses in 2019, up 69% on 2017 figures. Reacting to the news, Moghadam stated, “This shows just how critical logistics real estate is to the vitality of the global economy. Every day, Prologis sees many of the goods that make modern life possible flow through our distribution centers, which in turn underscores the interconnected nature of global trade.”
Weathering the storm
The current crisis would not seem to have significantly troubled the 63 year old’s company. It posted better than expected second quarter results, with stock in the company up 6.2 percentage points from the start of the year to the end of July.
In February Prologis made news with the $13 billion acquisition of Liberty Property, which came hot on the heels of the purchase of industrial Property Trust for $4 billion.
In parallel to steering Prologis to success, The Tehran native, has kept up his academic pursuits, serving, variously, on the board of the California Academy of Sciences and as an administrator at Stanford. A long-time Republican, he endorsed Hillary Clinton in 2016.