Black Creek Group, a Denver-based real estate investment manager and development firm with a more than 25-year history, announced its sponsored investment platform, Industrial Property Trust (IPT), has entered into a merger agreement pursuant to which it will be acquired by an affiliate of Prologis in an all-cash transaction valued at approximately $3.99 billion, subject to adjustment for certain transaction costs.
The transaction will not include IPT’s minority ownership interests in its two unconsolidated joint venture partnerships. IPT’s board of directors unanimously approved the transaction.
“We believe this transaction makes sense for our investors as we want to deliver shareholder returns that maximize the current economic environment. The industrial sector continues to be one of the strongest in commercial real
