Warehouse giant Prologis increases further its U.S. presence in a $23B deal
After two rather unpredictable and unprecedented years in the industrial market and two insufficiently attractive offers, the warehouse giant Prologis finally increased its U.S. presence in a $23B deal. The deal came at an interesting time. Real estate investment trust (REIT) stock prices sharply decreased the months before the deal’s announcement. However, the businesses may not be affected as much as investors anticipated. In this article, we are looking at the acquisition of Duke Realty, providing highly complementary assets to Prologis’ 1-billion-square-foot portfolio, making the latter the world’s largest REIT by market capitalization.