DRE Duke Realty Corporation

By Chris Wack

Prologis Inc. is buying Duke Realty Corp. in an all-stock transaction valued at $26 billion, including the assumption of debt, the companies said Monday.

The transaction is anticipated to create immediate accretion of $310 million to $370 million from corporate general and administrative cost savings and operating leverage as well as mark-to-market adjustments on leases and debt, Prologis said.

With the transaction, Prologis is gaining high-quality properties for its portfolio in key geographies, including Southern California, New Jersey, South Florida, Chicago, Dallas and Atlanta.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 13, 2022 08:34 ET (12:34 GMT)

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