It came out that Brookfield Asset Management Inc. is putting IDI Logistics, one of the world’s leading investors and developers of logistics real estate, on the block, according to Bloomberg News. While the asking price has not been disclosed, IDI Logistics, which was acquired by Brookfield for $1.1 billion in 2014, is expected to fetch about $5 billion.
Last year, Brookfield also sold Glazeley, a 33 million-sq.-ft. European warehouse business, to Singapore-based Global Logistic Properties for $2.8 billion.
This comes after DCT Industrial Trust, Inc., a publicly-traded REIT with 71 million sq. ft. of assets in all major U.S. distribution markets and a deep development pipeline, sold to Prologis, Inc. for $8.4 billion earlier this summer.