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Duke Realty was a real estate investment trust (REIT) based in Indianapolis, Indiana, that invested in industrial properties. [ 1 ] [ 2 ] As of December 31, 2021, it owned or jointly controlled 548 primarily industrial properties containing 162.7 million rentable square feet. [ 1 ]
Prologis acquired competitor Duke Realty in October 2022, for $23 billion, completing the largest commercial real estate transaction in the U.S. since the onset of the COVID-19 pandemic. The following June, it acquired a further 14 million square feet of industrial property from The Blackstone Group for $3.1 billion. [57]
Prologis (PLD) inks deal to acquire Duke Realty (DRE) in an all-stock transaction valued at $26 billion.
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Rise in demand for its high-quality properties amid favorable industrial real estate market fundamentals will aid Duke Realty (DRE). Nevertheless, a development boom in some markets is concerning.
Duke Realty's (DRE) Q2 results will likely reflect impact of prolonged recovery in the industrial markets, which has led to elevated levels of new supply and hindered its pricing power.
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