Prologis Spends $3.1B On Property, The Latest In A String Of Deals With Blackstone
Portfolio Pulse from Lekha Gupta
Prologis Inc (NYSE:PLD) has agreed to acquire 14 million square-feet of industrial properties from Blackstone Inc (NYSE:BX) for $3.1 billion in cash. The deal is expected to close by the end of Q2. Prologis reported Q1 2023 revenues of $1.77 billion, up 45%, and core FFO rose 12% Y/Y to $1.22 per share.
June 26, 2023 | 3:04 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Blackstone sells 14 million square-feet of industrial properties to Prologis for $3.1 billion in cash, continuing their long-term partnership.
The sale of industrial properties to Prologis is part of Blackstone's ongoing partnership with the company. While the deal brings in cash for Blackstone, it is not clear how it will impact the company's overall financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Prologis acquires industrial properties from Blackstone for $3.1B, expanding its portfolio and customer relationships. Q1 2023 revenues up 45%.
The acquisition of industrial properties from Blackstone will expand Prologis' portfolio and customer relationships, which is positive for the company. Additionally, the strong Q1 2023 revenue growth indicates a healthy financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100