A PYMNTS Company

US: Prologis to buy IPT for about $4B

By  |  July 16, 2019

Prologis Inc (PLD.N) said on Monday it would buy Black Creek Group’s Industrial Property Trust Inc (IPT) (IDDP.PK), a portfolio of U.S. industrial properties, in an all-cash deal valued at about $4 billion.

The company said the deal, which consists of 37.5 million square feet of industrial holdings with 236 properties, expands its footprint in Southern California, the San Francisco Bay area, Chicago, Atlanta, Dallas, Seattle and New Jersey.

Prologis expects the deal to add to its annual core funds from operations by about 5 to 6.1 cents on a per share basis.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.