The proposal values Duke at $61.68 a share, a 29 percent premium to its closing price on May 9, according to a letter from Prologis CEO Hamid Moghadam.
Despite the drop, REITs are outperforming the broader stock market and seem positioned to weather current economic challenges.
Properties in Ohio, Texas and Oklahoma will represent more than 90 percent of Dream Residential’s forecast net operating income.
Company CEO Dwight Dunton talks about risk management, UPREIT structure and focusing on high-net-worth investors.