- June 1, 2018: Vol. 30, Number 6

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Warehouse REITs to be acquired in two mega-deals

by Loretta Clodfelter

The second quarter has seen the announcement of two multibillion-dollar industrial REIT acquisitions — the $8.4 billion Prologis/DCT Industrial Trust deal and the $7.6 billion Blackstone/Gramercy Property Trust transaction.

Prologis has agreed to acquire DCT in a stock-for-stock transaction, and will add 71 million square feet of logistics space to its global portfolio, much of it in Southern California, the San Francisco Bay Area, New York/New Jersey, Seattle and South Florida.

“For some time, we have considered DCT’s realigned portfolio to be the most complementary to our own in terms of product quality, market position and growth potential,” said Hamid Moghadam, chairman and CEO of Prologis, in a statement. “This high level of strategic fit will allow us to capture significant scale economies immediately. In addition, our current platform initiatives, particularly in the areas of advanced analytics, customer experience and procurement, and ancillary revenu

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