Industrial Midwest

AMB Property Corp and ProLogis to merge

AMB Property Corporation and ProLogis have announced a definitive agreement to combine through a merger of equals, creating the pre-eminent global owner, operator and developer of industrial real estate. Combined, the companies are expected to have a pro forma equity market capitalization of approximately $14 billion, a total market capitalization in excess of $24 billion, and gross assets owned and managed of approximately $46 billion.

Multifamily Midwest

Marcus & Millichap completes multifamily sale

Marcus & Millichap Real Estate Investment Services has announced the sale of Riverside Trail Apartments, a 60-unit apartment property located in Lyons, Ill., according to Steven Weinstock, regional manager of the firm’s Oak Brook office. The asset commanded a sales price of $3,510,000 or $58,500 per unit.