Prologis Inc Acquires 14M SF Industrial Portfolio From Blackstone Group For $3.1B

Prologis Inc has agreed to purchase 14 million square feet of industrial properties from Blackstone Group for a total of $3.1 billion. The acquisition is an all-cash deal and will significantly expand Prologis' presence in key U.S. regions including Atlanta, Washington DC, California, Dallas, Las Vegas, New York, Phoenix, and South Florida. The portfolio of industrial properties will provide Prologis with a robust foothold in the logistics sector and meet the growing demand for high-quality warehouses.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $3,100,000,000
• Square Footage: 14,000,000
• Price per Square Foot: $221
• Buyer: Prologis Inc
• Seller: Blackstone Group - Nadeem Meghji

The acquisition represents a strategic move for Prologis Inc, allowing them to strengthen their market presence and capitalize on the increasing demand for industrial properties in the specified regions. Nadeem Meghji, representing the Blackstone Group, facilitated the transaction as the seller's representative. This deal reflects the continuous growth and investment opportunities in the logistics sector, highlighting the significance of high-quality warehouses in meeting the evolving needs of the industry.