Filed Pursuant to Rule 433
Registration Statement No. 333-140861
Issuer Free Writing Prospectus
Dated February 23, 2007
Relating to Prospectus
Dated February 23, 2007
and the Preliminary Prospectus Supplement
Dated February 23, 2007
FOR IMMEDIATE RELEASE
AMB
PROPERTY
CORPORATION®
PLANS TO EXPAND ITS GLOBAL DEVELOPMENT BUSINESS TO ANNUAL
STARTS OF $1.6 BILLION
SAN FRANCISCO, February 23, 2007 — AMB Property Corporation® (NYSE:AMB), a global
developer and owner of industrial real estate, today announced that it expects to expand its global
development business and increase its annual development starts by approximately 75% over the next
four years, from a record level of $914 million in 2006 to a
target of approximately $1.6 billion per year by
2010.
Over the past five years, AMB has built a global development franchise and created significant
development capabilities in North America, Europe and Asia, meeting the demand from our customers
for high-quality industrial space in markets tied to global trade. Since beginning our global
expansion in 2002, the company has increased its annual development starts ten fold to $914 million
in 2006.
Over the same period, through dispositions and the recycling of capital back into our development
business, we have aligned our portfolio with our investment strategy which is focused on industrial
distribution space in major markets tied to global trade. “We believe that many of AMB’s existing
platforms are realizing their potential and that customer demand, fueled by global trade, continues
to drive our expansion into new markets around the world,” said Hamid R. Moghadam, AMB’s chairman
and CEO. “We further believe our opportunity set is greater than it ever has been and that now is a good
time to take advantage of these opportunities. As such, we intend to strengthen our balance sheet
to provide capital for growth. We are very excited about the prospects for our global business.”
AMB
Property Corporation.® Local partner to global trade.™
AMB Property Corporation® is a global developer and owner of industrial real
estate, focused on major hub and gateway distribution markets throughout North America, Europe and
Asia. As of December 31, 2006, AMB owned, or had investments in, on a consolidated basis or through
unconsolidated joint ventures, properties and development projects expected to total approximately
124.7 million square feet (11.6 million square meters) and 1,088 buildings in 39 markets within 12
countries. AMB invests in properties located predominantly in the infill submarkets of its targeted
markets. The company’s portfolio is comprised of High Throughput Distribution®
facilities—industrial properties built for speed and located near airports, seaports and ground
transportation systems.
AMB’s press releases are available on the company website at www.amb.com or by contacting the
Investor Relations department at +1 415 394 9000.
Some of the information included in this press release contains forward-looking statements,
such as the expansion of our development business and the source of financing for our development
activities, which are made pursuant to the safe-harbor provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended.
Because these forward-looking statements involve risks and uncertainties, there are important
factors that could
cause our actual results to differ materially from those in the forward-looking statements, and you
should not rely on the forward-looking statements as predictions of future events. The events or
circumstances reflected in forward-looking statements might not occur. You can identify
forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,”
“may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or
“anticipates” or the negative of these words and phrases or similar words or phrases. You can also
identify forward-looking statements by discussions of strategy, plans or intentions.
Forward-looking statements are necessarily dependent on assumptions, data or methods that may be
incorrect or imprecise and we may not be able to realize them. We caution you not to place undue
reliance on forward-looking statements, which reflect our analysis only and speak only as of the
date of this report or the dates indicated in the statements. We assume no obligation to update or
supplement forward-looking statements. The following factors, among others, could cause actual
results and future events to differ materially from those set forth or contemplated in the
forward-looking statements: defaults on or non-renewal of leases by tenants, increased interest
rates and operating costs, our failure to obtain necessary outside financing, re-financing risks,
difficulties in identifying properties to acquire and in effecting acquisitions, our failure to
successfully integrate acquired properties and operations, our failure to divest properties on
advantageous terms or to timely reinvest proceeds from any divestitures, risks and uncertainties
affecting property development and construction (including construction delays, cost overruns, our
inability to obtain necessary permits and public opposition to these activities), our failure to
qualify and maintain our status as a real estate investment trust, environmental uncertainties,
risks related to natural disasters, changes in general economic conditions or in the real estate
sector, changes in real estate and zoning laws or other local, state and federal regulatory
requirements, a downturn in the U.S., California, or the global economy, risks related to doing
business internationally, losses in excess of our insurance coverage, unknown liabilities acquired
in connection with acquired properties or otherwise and increases in real property tax rates. Our
success also depends upon economic trends generally, including interest rates, income tax laws,
governmental regulation, legislation, population changes, various market conditions and
fluctuations and those other risk factors discussed under the heading “Risk Factors” and elsewhere
in our most recent annual report on Form 10-K for the year ended December 31, 2006.
AMB CONTACTS
Margan S. Mitchell
Vice President, Corporate Communications
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Direct
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+1 415 733 9477 |
Fax
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+1 415 477 2177 |
Email
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mmitchell@amb.com |
Rachel E. McKosky
Media and Public Relations Director
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Direct
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+1 415 733 9532 |
Fax
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+1 415 477 2063 |
Email
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rmckosky@amb.com |
The
issuer has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus in that
registration statement and other documents the issuer has filed with
the SEC for more complete information about the issuer and this
offering. You may get these documents for free by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively, the issuer,
any underwriter or any dealer participating in the offering will
arrange to send you the prospectus if you request it by calling
Banc of America Securities LLC toll-free at 1-800-294-1322 (or you may e-mail a request to
dg.prospectus_distribution@bofasecurities.com), J.P. Morgan Securities Inc. collect at 212-834-4533
or Morgan Stanley & Co. Incorporated toll-free at 1-866-718-1649.
