Deals
Prologis, Norway Buy KTR Real Estate for $5.9 Billion
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Prologis Inc., the world’s largest owner of industrial real estate, and Norway’s $890 billion sovereign wealth fund agreed to buy KTR Capital Partners for $5.9 billion to expand in key U.S. markets.
The purchase will be made by Prologis U.S. Logistics Venture, a partnership with Norges Bank Investment Management, the San Francisco-based company said Sunday in a statement. The deal includes the assumption of about $700 million in debt and the issuance of as much as $230 million of common limited partnership units in Prologis LP to KTR.