Prologis has announced that it will acquire Black Creek Group's Industrial Property Trust Inc. (IPT) for $4 billion. The deal is expected to close late this year or early next year.
The deal, which consists of 37.5 million square feet of industrial holdings with 236 properties, will help it expand its footprint in Southern California, Chicago, Atlanta, Dallas, Seattle and New Jersey.
In addition, Prologis expects the deal to add to its annual core funds from operations by upwards of 6.1 cents on a per share basis, Reuters reports.
