M&A Deal Summary

Prologis Acquires Liberty Property Trust

On October 27, 2019, Prologis acquired real estate company Liberty Property Trust for 12.6B USD

Acquisition Highlights
  • This is Prologis’ 5th transaction in the Real Estate sector.
  • This is Prologis’ 2nd largest (disclosed) transaction.
  • This is Prologis’ 5th transaction in the United States.
  • This is Prologis’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2019-10-27
Target Liberty Property Trust
Sector Real Estate
Buyer(s) Prologis
Deal Type Add-on Acquisition
Deal Value 12.6B USD
Advisor(s) Goldman Sachs
Citigroup Investment Banking (Financial)
Morgan Lewis (Legal)

Target

Liberty Property Trust

Wayne, Pennsylvania, United States
Liberty Property Trust is a provider in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 100 million square foot portfolio includes 746 properties which provide office, distribution and light manufacturing facilities to 1,800 tenants. Liberty Property was founded in 1972 and is based in Wayne, Pennsylvania.

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Buyer(S) 1

Buyer

Prologis

San Francisco, California, United States
Category Company
Sector Real Estate
Employees2,574
Revenue 8.0B USD (2023)
DESCRIPTION
Entrance to Prologis' corporate headquarters in San Francisco, California.
Entrance to Prologis' corporate headquarters in San Francisco, California.

Prologis is an owner, operator, and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. Prologis is based in San Francisco, California.

DEAL STATS #
Overall 5 of 6
Sector (Real Estate) 5 of 6
Type (Add-on Acquisition) 4 of 5
State (Pennsylvania) 1 of 1
Country (United States) 5 of 6
Year (2019) 2 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 Industrial Property Trust

Denver, Colorado, United States

Industrial Property Trust, Inc. (IPT) operates as a real estate investment trust (REIT) that acquires and operates high-quality distribution warehouses that are leased to corporate customers.1IPT seeks to acquire properties that produce rental revenue for IPT by means of the rents the corporate customers pay to use the properties for their businesses.

Buy $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-10 Duke Realty

Indianapolis, Indiana, United States

Duke Realty is a provider of commercial real estate. Duke Realty owns, maintains an interest in, or has under development approximately 156.5 million rentable square feet of industrial and office assets, including medical offices, in 22 major U.S. metropolitan areas. Duke Realty is based in Indianapolis, Indiana.

Buy $26.0B
Mergr

Product

Company

Legal