Prologis to acquire Liberty Property Trust for $12.6b
Prologis has acquired Liberty Property Trust in an all-stock transaction, valued at approximately $12.6 billion.
The transaction deepens Prologis’ presence in target markets such as Lehigh Valley, Chicago, Houston, Central Pennsylvania, New Jersey and Southern California.
The acquisition on an owned and managed basis comprises:
- 107 million-square-foot logistics operating portfolio; 87 percent overlap with key markets
- 5.1 million square feet of logistics development in progress
- 1,684 acres of land for future logistics development with build-out potential of 19.7 million square feet
- 4.9 million-square-foot office operating and development portfolio
Prologis plans to dispose of approximately $3.5 billion of assets on a pro rata share basis. This includes $2.8 billion of nonstrategic logistics properties and $700 million of office properties.
