A Prologis holding. Photo by Prologis.
DENVER and SAN FRANCISCO—Prologis and Denver-based Black Creek Group have come to an agreement in which Prologis will buy Black Creek's investment platform Industrial Property Trust in an all-cash transaction of $3.99 billion.
The deal includes 236 properties located across 24 geographic areas, or put another way, 37.5 million square feet of industrial holdings that are currently 96% leased. The deal does not include IPT's minority ownership interests in its two unconsolidated joint venture partnerships. IPT's board of directors have approved the transaction.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
