Prologis Trades 59 Assets to TPG

SAN FRANCISCO—Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Prologis Inc. has closed on the sale of a 7.5-million-square-foot industrial portfolio to TPG Capital. It’s the second time the industrial REIT has traded assets to Dallas-based TPG, although the first time the transaction has occurred strictly within the industrial sector.

Deal terms were not disclosed. A quarterly industrial market report from JLL cites a purchase price of $375 million, or about $54 per square foot, for the 59-asset deal, but Prologis did not respond to GlobeSt.com’s requests for comment by deadline early Wednesday afternoon.