Quick Take: ProLogis Proves a Point

If you need a sign that there's still money in the market looking for a good home, look no further than this morning's announcement from ProLogis (NYSE: PLD  ) and the $14 billion it raised last week to set up four property funds.

ProLogis is a real estate investment trust (REIT) with a focus on distribution facilities around the globe. The new funds established by ProLogis will own state-of-the-art distribution facilities in the U.S., Mexico, Europe, and South Korea. In a video message about the deals, CEO Jeff Schwartz mentioned that demand for the Europe and Mexico funds was greater than the company could handle. ProLogis will provide recently developed and acquired properties for the funds, maintain an ownership stake in them, and earn a fee for managing the properties.

This is a clear sign that despite the problems in residential real estate and mortgages, there is still demand for specific types of high-quality commercial real estate, and for high-quality businesses in general.

If you find ProLogis interesting, and you're looking for another company in the same space, I recommend considering AMB Property (NYSE: AMB  ) , which also owns a number of overseas distribution facilities. REITs focused on retail properties, such as General Growth Properties (NYSE: GGP  ) and Simon Property Group (NYSE: SPG  ) , also are worth a look for their expanding international property ownership.

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Nathan Parmelee has no financial stake in any of the companies mentioned. The Motley Fool has an ironclad disclosure policy.