DCT Industrial Trust shareholders approved the $8.4 billion merger agreement announced earlier this year with Prologis at a recent special shareholders meeting.
When the transaction closes, which is expected to happen this week, DCT Industrial stockholders will receive 1.02 Prologis shares for each DCT share they own. At closing DCT will be merged into Prologis and will no longer trade on the NYSE.
BofA Merrill Lynch is acting as exclusive financial advisor and Goodwin Procter LLP is serving as legal advisor to DCT. J.P. Morgan is acting as exclusive financial advisor and Mayer Brown LLP is serving as legal advisor to Prologis.
Complementary Portfolios
The driving force behind this deal is the growing influence e-commerce now has on the industrial sector — and the subsequent need for scale and presence in infill, urban markets. Denver-based DCT Industrial Trust’s 71 million square foot operating portfolio will expand Prologis’ presence in Southern California, the San Francisco Bay Area, New York/New Jersey, Seattle and South Florida.
When the deal was first announced Prologis chairman and chief executive officer Hamid R. Moghadam said “The REITs’ respective portfolios are very complementary and will allow Prologis to capture significant scale economies immediately.”
Source: GlobeSt.
Larry W. Genet is a Senior Vice President in the CBRE, Inc. Miami, FL office. As part of the CBRE platform Mr. Genet can provide a wide range of services from local to Fortune 1000 clients including agency and tenant representation, asset or portfolio management, high level logistics, labor and data analytics prior to site selection, project/construction management, capital markets, owner user sales and valuation advisory services. CBRE is the global leader for real estate services worldwide.
Larry has extensive experience in landlord agency, tenant representation, acquisitions, dispositions and property management. As a third-generation commercial real estate professional and South Florida native, Larry boasts deep community ties, an intimate knowledge of the South Florida market and numerous professional contacts. Larry’s leasing expertise of industrial, office, land, retail and medical properties coupled with his experience in acquisitions and dispositions gives him the ability to represent a myriad of clients in the South Florida market. Additionally, Larry controls a portfolio of 13.5 million square feet allowing him to see every deal in the market. This ensures his clients never miss an opportunity. His knowledge of tenants and buyers in the market is top notch and when coupled with his team's vast portfolio, it's a winning combination.
