Prologis to Sell US Industrial Building Portfolio to Black Creek Industrial REIT IV
June 6, 2021 | S&P Global Market Intelligence
Affiliates of industrial real estate investment trust Prologis Inc. agreed to sell the entire fee interest in 48 industrial buildings across 13 U.S. markets for $920.0 million, subject to customary prorations.
An indirect, wholly owned subsidiary of Black Creek Industrial REIT IV Inc. will acquire the portfolio, which totals approximately 8.3 million square feet and is 96.4% occupied with a weighted average remaining lease term of about 3.4 years.
Black Creek will finance the deal through proceeds from its public offering and funds from its existing credit facility.
Closing is expected to take place July 14.
