A Prologis distribution facility in Seattle.
SAN FRANCISCO—Prologis, Inc. and Ivanhoé Cambridge report they have agreed to form a 20/80 logistics real estate joint venture in Brazil valued at $890 million.
The entity— Prologis Brazil Logistics Venture—will develop and operate logistics real estate in Sao Paulo and Rio de Janeiro, Brazil. At closing, the venture will acquire an initial portfolio of assets of approximately 6.9 million square feet of operating properties and 371 acres of land from Prologis' balance sheet with a commitment to build out the existing land bank.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
