Industrial REIT Prologis Buying KTR Capital for $5.9 Billion

Prologis, Inc. (NYSE: PLD) said April 19 it has agreed to buy industrial property owner KTR Capital Partners through a joint venture for a total of $ 5.9 billion.

The properties will be acquired by Prologis U.S. Logistics Venture (USLV), a consolidated joint venture with Norges Bank Investment Management (NBIM), the manager of the Norwegian Government Pension Fund Global. Prologis holds a 55 percent stake in the joint venture.

News

GGP Tax Executive says Retention of Capital Critical in REIT Partnership Issues

Kate Courtis, senior vice president for taxation at General Growth Properties, Inc.  (NYSE: GGP), joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.

Courtis moderated a panel at REITWise looking at the partnership tax issues encountered by REITs. Some of the issues the panel discussed included disguised sales and beneficial elections.

“When [REITs] want to recycle capital, retention of that capital is critical,” Courtis said.

News

Real Estate Lawyer Sees Continuing Capital Flows into Public Non-Listed REITs

Peter Fass, partner at Proskauer Rose, LLP, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.

Fass observed that new customer account rules from the Financial Industry Regulatory Association (FINRA) aiming to increase transparency of public non-listed REITs (PNLR) have led to speculation about their impact on a number of fronts.

“There’s a lot of talk about how it’s going to affect sales. Who’s going to make the changes? Will it reduce fees to broker-dealers? We shall see,” he said.

News

BMO Banker Sees Strong Investor Support in Real Estate Capital Markets

Mark Decker Jr., group head of U.S. real estate at BMO Capital Markets, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.

Decker discussed the state of the real estate capital markets.

“They’re in great shape,” he said. “There’s a lot of access to all the markets. Pick your flavor. If you’ve got a good use for the money, there’s a lot of investor support,” he said.

News