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Prologis Expands With $5.9B Acquisition

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Prologis is expanding its holdings in Chicago and elsewhere, with a $5.9B acquisition of KTR Capital Partners, in partnership with Norway's $980B sovereign wealth fund. The acquisition will allow Prologis to expand in California, Florida, New Jersey, Chicago, Seattle and Dallas, among other markets, Bloomberg reports. Prologis officials say they expect the transaction will increase the price of shares by 14 cents. Shares were 49 cents in Q1. KTR owns about 70M SF of warehouse real estate, some in Chicago. [Bloomberg