ProLogis, the world’s largest storehouse owner, agreed to sell about 180 manufacturing properties to Blackstone Group LP to help decrease debt.
The $1.02 billion sale also take in wellbeing in three real estate funds and a minority stake in the Hilton New Orleans Riverside hotel, ProLogis said in a report today. The Denver- based
Company expects the deal to close in mid-November.
ProLogis had $8.2 billion of debt as of June 30, according to regulatory filings. The Blackstone transaction, collective with $600 million in other sales this year, pushes the company’s disposition for 2010 above its forecast of $1.3 billion to $1.5 billion, the proclamation said
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