Hogan Lovells advises Industrial Property Trust in US$3.99 billion sale to Prologis
International law firm Hogan Lovells advised Industrial Property Trust, Inc. in its US$3.99 billion cash merger transaction with Prologis, Inc., the global leader in logistics real estate, for US$3.99 billion. Industrial Property Trust Inc. (IPT) is a sponsored investment platform owned by Black Creek Group, a Denver-based real estate investment manager and development firm. The overall transaction represents 236 properties across 24 geographic areas in the U.S., including 37.5 million square feet of industrial holdings that are currently 97 percent leased. Shareholders of IPT will receive cash in the transaction.
The deal is expected to close in the fourth quarter of this year or the first quarter of next year pending IPT shareholder approval and satisfaction of other customary conditions.
Corporate partners David Bonser, Bruce Gilchrist and Stacey McEvoy led the deal team, which also included partners Cristina Arumi and Matt Thomson, senior associate Katherine Keeley and Caitlin Piper and associates Nick Eckstein and Gil McDonald.