At its core, our approach is defined by collaboration, agility and the drive to excel.
We fared well in 2017. Thanks to an effective diversification strategy, we generated net investment income of $2.7 billion and returns of 8.1% for our shareholders. Our teams completed $12.4 billion in transactions, including more than $8 billion in acquisitions, development projects and fixed assets. We increased our presence in the logistics sector, broke ground on major new projects in our development pipeline and continued to invest strategically to create value in our existing properties.
As an investor, we have the financial might to execute complex transactions while remaining very serious about our responsibility to make sound decisions and to seize opportunities to create value for our portfolio. As a builder, we have the incredible privilege to leave a lasting legacy by deploying our development expertise to build city-defining projects that contribute to transforming the urban landscape of world-class cities. As an operator, we attract sophisticated tenants and users and strive to always be tuned in to their ever-evolving needs, in order to create spaces and offer services that meet their expectations.
Talent is everything. Our teams attract and develop the top talent in the industry. Every day, I witness the work accomplished by the incredibly dedicated people who embody our Company’s entrepreneurial spirit. And I am grateful to them for everything they do. They are the reason why we have the agility required to act quickly, capitalize on opportunities and execute complex transactions. We are people-focused and we believe in building strong relationships with partners, tenants and other stakeholders. At its core, our approach is defined by collaboration, agility and the drive to excel.
In any investment, the choice of a partner is just as important as the geography or the type of product. You need to ask yourself: Is there trust? Do you share similar values? Are your objectives aligned? We are fortunate to work alongside expert strategic partners all around the world and to benefit from their knowledge of local markets. When one of our partners sees a deal on the horizon, we want to be on the other end of that first call they make.
There is no doubt that the explosion of e-commerce is changing the way people consume goods and services. This trend is driving growth in the logistics sector and transforming the world of retail, creating opportunities along the way. At the same time, the global phenomenon of urbanization is influencing the kind of spaces we want to create and amenities we need to offer as more and more people want to live, work and play in the heart of the city. We are also keeping a close eye on other key trends, among them the increasing importance of providing experiences, the reinvention of work spaces and, of course, everything and anything to do with sustainability. That is why we have decided to specifically address each of these themes in this report. To succeed in this rapidly changing landscape, we need to be forward-looking and modernize our assets to drive occupancy, well‑being and value creation.