Prologis to acquire Liberty Property Trust for $12.6 billion
28 October 2019
Liberty's logistics assets are seen as complementary to the Prologis U.S. portfolio.
It is an all-stock transaction, valued at approximately $12.6 billion, including the assumption of debt. The board of directors of Prologis and the board of trustees of Liberty have each unanimously approved the transaction.
The acquisition on an owned and managed basis comprises 107 million square foot logistics operating portfolio, 5.1 million square feet of logistics development in progress, and 1,684 acres of land for future logistics development with build-out potential of 19.7 million square feet.