Philadelphia Navy Yard, Comcast tower developer acquired in $12.6 billion deal

Liberty Property Trust, the developer behind Philadelphia’s two tallest skyscrapers, has been acquired by San Francisco-based Prologis Inc. is a $12.6 billion deal.

Based in Wayne, Liberty Property Trust was key energy in the redevelopment of the Philadelphia Navy Yard, the event of the Comcast Center and the Comcast Technology & Innovation Center, and numerous different new developments alongside the Delaware River in Camden, amongst totally different large initiatives.

Prologis will buy Liberty Property Trust in an all-stock transaction, plus the idea of debt, in response to the Philadelphia Business Journal.

Willard D. Rouse III launched Liberty Property Trust in the 1970s with the event of enterprise properties in South Jersey. The agency was taken over by CEO William Hankowsky after Rouse died in 2003.

Liberty reportedly had been pursuing this finish consequence for years as a result of it transitioned in direction of proudly owning and rising warehouse distribution services all through the United States.

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