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Prologis Acquiring DCT Industrial Trust for $8.4 Billion
San Francisco-based Prologis, Inc. is acquiring DCT Industrial Trust Inc. for $8.4 billion in a stock-for-stock transaction. The boards of directors of both companies have unanimously approved the transaction that is expected to close in Q3 2018.
Prologis’ Hamid R. Moghadam says, “For some time, we have considered DCT’s realigned portfolio to be the most complementary to our own in terms of product quality, market position and growth potential. This high level of strategic fit will allow us to capture significant scale economies immediately.”
The 71-million-square-foot operating portfolio includes assets in SoCal, the Bay Area, New York/New Jersey, Seattle and South Florida. The acquisition also includes:
– 7.1 million square feet of development, redevelopment and value-added projects
– 195 acres of land in pre-development, with build-out potential of nearly three million square feet
– 215 acres of land under contract or option with a build-out potential of more than 3.3 million square feet
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
