Catellus was founded in 1984, following a proposed merger of two railroad giants. When Santa Fe Industries (which owned the Atchison, Topeka and Santa Fe Railway) proposed a merger with the Southern Pacific Company (which owned the Southern Pacific Railroad), the new company created a wholly owned subsidiary named the Santa Fe Pacific Realty Corporation. The subsidiary was charged with managing the company’s non-railroad landholdings and turning unproductive parcels across the country into revenue generating assets.
In 1990, after the merger of the railroads was denied, Santa Fe Pacific Realty Corporation spun off as a publicly traded company named Catellus Development Corporation (NYSE:CDX). Catellus quickly became nationally known for its visionary brownfield redevelopment projects built in coveted locations near major metropolitan areas and along some of the country’s most scenic shorelines, active seaports and busy transportation routes. Over time Catellus grew its land and building portfolio, as well as a reputation as one of the country’s most notable pioneers for mixed-use land development.
Catellus became a Real Estate Investment Trust (REIT) in 2004 with a land and building portfolio consisting of extensive mixed-use, retail and industrial developments. A year later Catellus merged with ProLogis, a leading provider of industrial real estate. In 2011, TPG Capital (TPG) purchased Catellus’ mixed-use and retail assets from ProLogis. Today the company operates as Catellus Development Corporation (Catellus). TPG Capital is the global buyout group of TPG, a leading private investment firm with offices worldwide.
Click here to visit Catellus' website.
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