Prologis, a logistics real estate firm agreed to acquire Industrial Property Trust, a owner of warehouses across USA from Black Creek for $3.99bn. The cash deal, which includes the assumption and repayment of the debt, will probably close late this year or early next. The 37.5m sq ft operating portfolio comprises 236 properties, 96% of which are in existing Prologis markets. Specifically, the transaction expands the company's position in Southern California, the San Francisco Bay Area, Chicago, Atlanta, Dallas, Seattle and New Jersey.