ProLogis buys European shed developer unit

ProLogis, the world leader in managing and developing distribution facilities, has acquired the industrial development business of Parkridge, a European rival, for EUR 447 mln. In a separate transaction, Parkridge's joint venture partner has agreed to sell its 50% stake in the Central European joint venture to ProLogis for EUR 345 mln. The price includes EUR 246 mln of debt to be paid down at the closing of the transaction.

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