TPG Capital in $505 Million ProLogis Acquisition

December 23, 2010

Cleary Gottlieb is representing affiliates of TPG Capital in the acquisition of a $505 million portfolio of U.S. retail and mixed-use assets from ProLogis. The transaction was signed on December 17 and is expected to close in the first quarter of 2011.

ProLogis acquired the real estate portfolio being transferred to TPG from Catellus Development Corporation in 2005. The portfolio includes four shopping centers, two office buildings, 11 mixed-use development projects, two residential joint ventures and Los Angeles Union Station, as well as a variety of ground leases, telecommunication easements and former railroad rights of way. As part of the transaction, TPG will also acquire the Catellus name.