Including debt, the deal is valued at $12.6 billion. Prologis is buying a portfolio of 107 million square feet of logistics properties that’s owned or managed, as well as buildings under construction and land for future development.
Facing high valuations and heavy competition, REITs are not going wild with acquisitions.
REIT M&A activity in 2019 hasn’t matched last year’s impressive levels. That may be because the REITs are changing direction.
Jon Needell notes that the publicly-traded REITs’ correlation to the general equities market has risen considerably in recent years.
Jeff Pyatt, incoming CEO of Broadmark Realty Capital, talks about his expectations for the multifamily and single-family lending markets.
After settling lawsuits tied to an accounting scandal, VEREIT might be able to focus more on new acquisitions.
As newly developed self-storage properties face a tougher lease-up environment, REITs see potential acquisition bargains.
