Under the merger plan, announced in May, ProLogis will acquire Keystone for $23.80 a share or approximately $1.7 billion, including assumed liabilities and expenses. The current Keystone portfolio, including properties under development, contains 143 buildings with an aggregate of more than 34 million sf.
With Keystone, the ProLogis global portfolio will grow to approximately 280 million sf. It is already the world's largest industrial REIT. The Keystone addition specifically strengthens ProLogis's position in Miami, New Jersey and eastern Pennsylvania.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
