COMMERCIAL NEWS
Equitable Invests in SoLa Impact’s Black Impact Fund Equitable, a financial services company and
Americans in lower-income communities.
principal franchise of Equitable Holdings, has invested $15 million in the Black Impact
The move is part of Equitable’s commitment
Fund, the fourth fund of SoLa Impact. SoLa
to invest a portion of its General Account to-
Impact, a Black-led real estate developer and
ward creating meaningful and positive social
investment fund, is focused on providing
impact in the communities in which it serves.
Photo courtesy of PRNewswire
ing in California’s cities. SoLa launched the
SoLa Impact leverages private capital to meet
combines access to affordable housing with
fund, in part, to help address and improve
the demand for high-quality affordable hous-
access to education, capital and ownership
economic opportunities for Black and brown
ing in California’s urban markets. Its approach
to upli# Black and brown communities.
SoLa Impact CEO Martin Muoto
high-quality, affordable and workforce hous-
Prologis to Combine with Duke Realty in $26B All-Stock Transaction A#er months of back-and-forth, Prologis Inc.
own. The respective boards of directors for
and Duke Realty Corporation have entered
Prologis and Duke Realty have unanimously
into a merger agreement by which Prologis
approved the transaction.
will acquire Duke Realty in an all-stock transaction, valued at approximately $26 billion,
With the transaction, Prologis is gaining
including the assumption of debt.
properties in key geographies, includ-
basis comprises: 153 million square feet
ing Southern California, New Jersey, South
of operating properties in 19 U.S. logistics
Florida, Chicago, Dallas and Atlanta.
geographies; 11 million square feet of devel-
Under the terms of the agreement, Duke Re-
opment in progress and 1,228 acres of land
alty shareholders will receive 0.475x of a Prologis share for each Duke Realty share they
The acquisition on an owned and managed
owned and under option.
Taconic Partners Launches Life Sciences Platform To better expand and manage its growing
estate totaling 1.4 million square feet. While
life sciences portfolio, Taconic Partners has
all four of these projects are located in Man-
launched Elevate Research Properties, a
hattan, Elevate plans to invest in core lab
wholly owned subsidiary of Taconic that will
markets outside of New York as well.
be responsible for acquisitions, development, leasing and management in the sector.
Matthew Weir will serve as president of the
search Properties has two active lab devel-
With three projects in active development
new venture in addition to his current role as
opments: 125 West End Ave. and The Hud-
along with a recently announced future pipe-
executive vice president of Taconic.
son Research Center. Elevate will soon unveil plans for 309 East 94th St., a Class A research
line deal, Elevate will have approximately $2 billion of investment in life science real
On the West Side of Manha$an, Elevate Re-
lab development.
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