Blackstone to buy 180 properties from ProLogis

There’s a huge deal looming between private equity giant Blackstone and ProLogis, through which the logistics developer would dispose of 180 properties thought to be located in the United States. Blackstone would take control of nearly 1.85 million sqm of shed space for $1bn. Ever since the financial crisis erupted, ProLogis has been working to reduce its level of debt to improve its credit rating. The deal is thought to indicate the beginning of a positive trend for a sector hit hard by recession.

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