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Prologis acquires Liberty Property Trust for $12.6B
Stacy Wescoe//February 4, 2020//
Liberty Property Trust, a major commercial real estate company in the region is now a part of Prologis Inc. of San Francisco.
Liberty announced in October that it was being acquired by Prologis in a $12.6 billion all-stock deal. The transaction closed today.
Liberty, which has been operating since 1972 and has a corporate office in Bethlehem, specializes in the ownership, development, acquisition and leasing of buildings in logistics markets.
Liberty has a 26-million-square-foot industrial portfolio in Pennsylvania, many of them properties throughout Lehigh Valley and Central Pennsylvania.
According to its website, Prologis leases modern logistics facilities to a diverse base of approximately 5,000 customers principally across two major categories: business-to-business and retail/online fulfillment.
As of Dec. 31, 2019, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 814 million square feet in 19 countries.
