Prologis, a logistics real estate firm, has merged with Duke Realty Corp.
With the transaction, Prologis gains properties in geographies like Southern California.
“We have admired the disciplined repositioning strategy the Duke Realty team has completed over the last decade,” said Prologis CEO Hamid R. Moghadam. “They have built an exceptional portfolio in the U.S. located in geographies we believe will outperform in the future. Our performance will be fueled by Prologis’ track record as a value creator in the logistics space. We have a diverse model that allows us to deliver even more value to customers.”
Goldman Sachs and Citigroup are serving as financial advisors, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Prologis. Morgan Stanley and J.P. Morgan Securities LLC are serving as financial advisors, and Hogan Lovells US LLP and Alston & Bird LLP are acting as legal advisors to Duke Realty.