100% leased to Rexam Beverage, this Kent, WA facility is one of 59 assets trading 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.

The portfolio spans nine markets, including Columbus, OH; Chicago; Cincinnati; Dallas; Denver; El Paso, TX; Los Angeles; Portland, OR; and Seattle. Prologis did not identify the assets by address or size; industry data cite a seven-property portfolio of specific properties in suburbs of Denver, Los Angeles, Portland and Seattle, ranging in size from 100,000 square feet for a Rexam Beverage Can facility in Kent, WA to 281,456 square feet for a property in Redondo Beach, CA.

In late 2010, Prologis announced the $505-million sale of a portfolio of US retail and mixed-use assets that it acquired in its 2005 merger with Catellus?along with the Catellus name?to TPG. It included four shopping centers, two office buildings, 11 mixed-use projects with related land and development agreements, two residential development joint ventures, Los Angeles Union Station, certain ground leases and other right-of-way leases. The deal was completed early the following year.

In its most recently quarterly earnings report in late April, Prologis said its core funds from operations rose to 43 cents per share from 40 cents per share in the first quarter of 2013. It also reported a 3% year-over-year rise in GAAP same-store NOI, an increase it attributed to higher occupancy and increasing rents.

The acquisition from Prologis marks TPG’s second major commercial real estate investment this week. On Monday, GlobeSt.com reported that a partnership of TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan had agreed to acquire property services firm DTZ for $1.215 billion.