Ivanhoé Cambridge and Prologis, Inc. Announces Formation of USD $880 Million Joint Venture in Brazil
January 18, 2019 at 04:10 pm EST
Prologis, Inc. announced the close of their agreement to form an approximately $880 million, 20/80 joint venture in Brazil. Prologis Brazil Logistics Venture will develop and operate logistics real estate in Brazil, specifically in São Paulo and Rio de Janeiro. At closing, the venture acquired an initial portfolio of assets of approximately 6.9 million square feet of operating properties and 371 acres of land from Prologis with a commitment to build out the existing land bank.