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Prologis wraps up $4B Industrial Property Trust deal

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Prologis (NYSE:PLD) closes the acquisition of the wholly owned real estate assets of Industrial Property Trust for ~$4B in cash, including the assumption and repayment of debt.

The portfolio comprises 37.5M square feet and 236 properties, 96% of which are in existing Prologis markets.

The transaction expands Prologis’s position in key markets across the U.S., including southern California, the San Francisco Bay area, Chicago, Atlanta, Dallas, Seattle, and New Jersey.

Source: M A News on Seeking Alpha