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July 25, 2019

Prologis to buy IPT

Logistics giant Prologis will acquire smaller competitor Industrial Property Trust, the two companies announced this month. The almost $4 billion cash deal is expected to close in the fourth quarter or early in 2020. IPT says its 37.5-million-square-foot operating portfolio comprises 236 properties, most in Prologis markets that include Southern California, the Bay Area, and the Pacific Northwest. Prologis has around 786 million square feet in its international portfolio. In the Puget Sound area, as of last fall, Prologis had around 150 buildings with some 20 million square feet.




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