New-York listed distribution property giant Prologis is selling a Northern American logistics portfolio and other assets to Blackstone Real Estate Advisors for a total of $1.02 bn (EUR 732 mln). Prologis announced on Tuesday that it has entered into a definitive agreement with affiliates of Blackstone RE to sell the industrial portfolio, a minority interest in a hotel property and Prologis' interests in three of its property funds.
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