Walter C. Rakowich, CEO of the industrial and warehouse REIT ProLogis, said one of the most important accomplishments during his first year on the job was deleveraging the company. "Our debt picture at the end of last year was about $11 billion, and we've reduced that to $7.7 billion in a year," he said. "So over $3 billion, or almost 30 percent, of our debt has been taken out of the picture."

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