Prologis lines up $4bn IPT acquisition

Prologis Japan warehouse 04

By Alexander Whiteman

18/07/2019

Prologis raised its profit outlook some 14% this week, after recording a 14% spike in second-quarter net income. The strong results were announced alongside news that it was lining up a $4bn acquisition of US industrial properties. Reuters reports that the company is about to buy Black Creek Group’s Industrial Property Trust (IPT), which would add 37.5m sq ft of industrial space, comprising 236 properties across Southern California, San Francisco Bay, Chicago, Atlanta, Dallas, Seattle and New Jersey. The deal is expected to close by the end of the year.

Read more...

Comment on this article

You must be logged in to post a comment.

Topics

ProLogis Warehousing AT Kearney inventory Logistics

Most Read

MSC Aries now bound for Iran, and crisis will be 'a catalyst for higher rates'

Urgent call for breakdown of cargo onboard as General Average declared on Dali

Hong Kong drops out of world's top 10 busiest container ports

Iranian troops seize MSC box ship while Somali pirates net $5m ransom for bulker

Flexport is 'back on track' – now it needs to start growing again

Bottlenecks and price hikes as airlines now avoid Iran airspace

Iran may now pose a threat to multimodal supply chains via Dubai

Capture of MSC Aries will further drive up Indian export costs

Looks like rain: Panama Canal Authority eyes return to normal service

Carriers look to short-term gains over blanking, as Red Sea crisis props up rates

Cargo flows through Dubai delayed by flooding, with 300 flights cancelled

EXCLUSIVE: Kuehne + Nagel shockwaves in APAC

Sustainability concerns don't show on shippers' procurement radar

Adjustors sharpen pencils on rumours Dali owner called General Average

Talk of Schenker, Flexport et al – and a meagre lunch for forwarders

CMA CGM Air Cargo finally launches transpac services