Railroad Lands - REITS to combine: Catellus to Be Bought by ProLogis

You may have seen in yesterday's business news the announcement that two of the largest Real Estate Investment Trusts will become one as Catellus, spun off to shareholders in 1990 by Santa Fe Pacific Corporation, is to be acquired by ProLogis. What you may not know is that according to the Los Angeles Times, Catellus, one of California's largest private landowners with the best industrial real estate portfolio in the United States, including Union Station in Los Angeles, is the descendent of the Big Four railroad real estate holdings, including former CPRR and SPRR lands going back as far as the Sacramento Valley Railroad.

Courtesy of Google Alerts.