SAN FRANCISCO – Prologis Inc. has agreed to acquire KTR Capital Partners, an industrial realty firm based in New York, $5.9 billion.
The KTR portfolio includes 322 warehouse and industrial properties with 60 million square feet, plus 3.6 million square feet of partially-completed industrial space under development and some business park land with a build-out potential of 6.8 million square feet.
Prologis said acquisition will strengthen its presence in Southern California, New Jersey, Chicago, South Florida, Seattle and Dallas.
Prologis, a REIT based in San Francisco, owns 2,853 properties in the U.S. and Europe.