Mayer Brown represented Prologis, Inc. in the $3.99 billion acquisition of Industrial Property Trust Inc. (IPT), a real estate investment trust that acquires and operates high-quality distribution warehouses that are leased to corporate customers.

The deal with IPT includes an operating portfolio of 236 properties and expands Prologis’ position in Southern California, the San Francisco Bay Area, Chicago, Atlanta, Dallas, Seattle and New Jersey. The transaction is expected to close in the fourth quarter of 2019 or early 2020.

The Mayer Brown team was led by Corporate & Securities partners David Malinger, Andrew Noreuil and Michael Hermsen and Tax Transactions & Consulting partner Jeff Bruns and included: Tax Transactions & Consulting – partner James Barry and associate Christopher Odell; Employment & Benefits – partner Debra Hoffman; and Corporate & Securities – associates Ryan Ferris, Laura McKenzie, Raoul Atadero, Allison Andrew and Stephanie Coirin.