Prologis, an owner, operator, and developer of industrial real estate, focused on global and regional markets across the Americas, Europe, and Asia, agreed to acquire industrial properties from Blackstone, an American multinational private equity, alternative asset management, and financial services firm that specializes in credit and hedge fund investment strategies, for $3.1bn. "We're pleased to be working with Blackstone on this deal. These high-quality properties are complementary to our portfolio and fit perfectly into our long-term strategic plan for growth. The acquisition demonstrates our unique ability to add significant scale to our portfolio - expanding customer relationships and increasing opportunities for our growing Essentials platform," Dan Letter, Prologis President.