Industrial real estate investment trusts (REITs) AMB Property and ProLogis have signed a merger deal. The combined company is expected to have about $46 billion in total assets, adds Bloomberg.

AMB CEO Hamid Moghadam and ProLogis CEO Walter Rakowich will become co-CEOs of the merged company until 2012. JP Morgan Securities was AMB’s financial advisor, while Wachtell, Lipton, Rosen & Katz provided the legal advice.

Click here for the release from PR Newswire.

Click here for the additional coverage from Bloomberg.