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DENVER — Denver-based ProLogis has closed on a $120 million, 10-year, secured financing on behalf of the ProLogis California Fund. The financing has a loan-to-value of approximately 50 percent with 11 industrial properties located in the Los Angeles Basin and Inland Empire. The proceeds will be used to partially refinance a $176 million secured debt facility that was set to mature in March 2009, but has been extended to March 2010.