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Michael S. Curless, chief investment officer, Prologis Michael S. Curless, chief investment officer, Prologis

SAN FRANCISCO—Locally-based Prologis Inc. has sold a portfolio of 16.5 million square feet of buildings and land in Europe and the United States to a Far East investor for $1.1 billion.

Prologis, a logistics real estate investment firm that completed its $8.4-billion acquisition of rival DCT Industrial Trust in August, reports it has completed the sale of 86 buildings and 144 acres of land to an unnamed “major Asian property company.”

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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