Warehousing REIT ProLogis (PLD +4.2%) is near a deal to sell more than 20M square feet of...

|By:, SA News Editor

Warehousing REIT ProLogis (PLD +4.2%) is near a deal to sell more than 20M square feet of property to Blackstone Group (BX +0.9%) for $1B. ProLogis lost its investment-grade rating from Fitch this summer over concerns about how it would raise money to pay down substantial debt.