TPG Capital Buys Catellus Assets for $505M

Buyout shop TPG Capital will pay roughly $505 million for a portfolio of U.S. retail and mixed-use assets currently owned by ProLogis. The properties include Los Angeles Union Station, four shopping centers, two office buildings and two residential development joint ventures, among others. The assets were acquired when ProLogis merged with Catellus Development Corp. in 2005. Private equity firm TPG Capital has more than $48 billion under management.

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