Prologis Analyzes Its Most Important Industrial Purchase Worldwide
- Prologis, a global logistics leader, has made a non-binding offer to acquire Blackstone's last mile assets in the European Union, amounting to €21 billion.
- Fibra Prologis has announced a $71.5 million investment for property acquisitions, capitalizing on the growing demand for storage and logistics spaces amidst supply chain disruptions and increased online sales.
The global logistics leader Prologis has made a non-binding offer to acquire Blackstone's last mile assets in the European Union. The proposed acquisition, currently under analysis, includes 2,000 logistics warehouses and amounts to €21 billion, making it one of the most significant transactions in the industrial real estate sector worldwide. Prologis aims to capitalize on increased demand for storage resulting from the Suez Canal blockage, the Russian invasion of Ukraine, and supply chain disruptions caused by the pandemic.
In another announcement, Fibra Prologis has disclosed a $71.5 million investment for property acquisitions. To proceed with the offer, Prologis must meet specific conditions set by the funds controlling Mileway. Warehouses and logistics spaces have seen tremendous growth in recent years due to the surge in online sales and the need for increased material storage amidst supply chain challenges. Prologis' shares have risen over 60% since pre-pandemic levels, resulting in a market capitalization of approximately $120 billion, empowering the company to pursue further expansion opportunities.
If Prologis presents a binding offer, the consortium leading Mileway's proposed recapitalization (including previous Mileway investors and various Blackstone funds) may consider the new proposal. Successful completion of the transaction would position Prologis as the leading player in the last mile segment across Europe, strengthening its foothold in the logistics market and capitalizing on industry growth prospects.
