A Denver real estate investment trust is being purchased by a California firm for $8.4 billion, and both companies have significant portfolios in South Florida.
Prologis Inc. of San Francisco will acquire DCT Industrial Trust Inc. and its 71 million-square-foot operating portfolio in a stock-for-stock transaction, including the assumption of debt.
As part of the deal, DCT shareholders will receive 1.02 Prologis shares for each DCT share they own.
Prologis is the No. 3 commercial property management firm in Southeast Florida with 20.79 million square feet managed as of July 2017.