Blackstone Teams With Prologis On $960M Industrial Deal

Law360, New York (May 23, 2013, 5:53 PM EDT) -- The Blackstone Group LP and Prologis Inc. are teaming up to make a $960 million purchase of a massive U.S. industrial portfolio from a venture led by Lehman Brothers Holdings Inc., sources confirmed to Law360 on Thursday.

Per the deal, Blackstone and Prologis will secure 17 million square feet of warehouse and industrial space. Blackstone's IndCor Properties Inc. will take more than half — about 9.5 million square feet — of the portfolio, focusing on assets in Reno, Nev., while Prologis will take the remainder of...
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