Prologis Completes $8.5 Billion Acquisition of DCT Industrial Trust
On August 22, Prologis announced the completion of its all-stock acquisition of DCT Industrial Trust for $8.5 billion, including the assumption of debt. The DCT portfolio is highly complementary to Prologis’ existing portfolio in terms of product quality, location and growth potential. The DCT portfolio includes the following:
- 71 million square foot owned and managed operating portfolio
- 7.5 million square feet of development, redevelopment and value-added projects
- 305 acres of land in pre-development with an estimated build-out potential of over 4.5 million square feet and 131 acres of land under contract, or option, with a build-out potential of over 1.6 million square feet
“We have tremendous respect and admiration for what the DCT team has accomplished in transforming their organization into a premier logistics company," said Hamid R. Moghadam, chairman and chief executive officer, Prologis. “They have created significant value through thoughtful market realignment, strong operating performance and smart development. Going forward, the combination of the portfolios will enable our shareholders to benefit from significant synergies and increased customer mindshare.”
Read more about the acquisition here.