4.28.2022 | This week we recognized 5 capital related transactions with a disclosed value of $18.4 Billion USD.
| Deal Size (Bn USD) | Capital Related Transactions |
| $8,600 | JCPenney Owners Offer to Buy Archrival Kohl’s for $8.6 Billion |
| $7,600 | Blackstone Agrees to Buy PS Business Parks for $7.6 Billion |
| $1,100 | Barings Enters Italian BTR Market Part €1 Billion ($1.1 Billion) Strategy |
| $713 | Dexus Buys AMP’s Australian Real Estate and Infrastructure Business for A$1 Billion ($713 Million) |
| $390 | RealSource Properties Launches $390 Million Multifamily REIT with 10 Properties |
| $18,013 | Total |
Summary of Transaction Headlines
New York Post | “JCPenney Owners Offer to Buy Archrival Kohl’s for $8.6 Billion”
Blackstone Inc. agreed to buy PS Business Parks Inc. for about $7.6 Billion, expanding its bets on real estate across the U.S. Affiliates of Blackstone Real Estate will buy Glendale, California-based PSB for $187.50 a share in cash, according to a statement Monday. The price is roughly a 12% premium to PSB’s closing price on Friday. Under the deal, Blackstone agreed to take over approximately 27 Million Square Feet of industrial and office properties, business parks and rental housing properties located in California, Miami, Texas and Northern Virginia. Shares of PS Business Parks surged Monday.
Finance.Yahoo | “Blackstone Agrees to Buy PS Business Parks for $7.6 Billion”
The owners of JCPenney have made an offer to acquire archrival Kohl’s in a deal that could value the department-store chain at upwards of $8.6 Billion, The Post has learned. Under the proposal, shopping-mall giant Simon Property and Canada-based Brookfield Asset Management — which together scooped JCPenney out of bankruptcy in December 2020 — have offered to acquired Kohl’s for $68 a share, according to sources close to the talks.
IREI | “Barings Enters Italian BTR Market Part €1 Billion ($1.1 Billion) Strategy”
Barings, on behalf of Barings Real Estate European Value-Add Fund II (BREEVA II), has acquired a build-to-rent (BTR) development opportunity in Milan. Purchased through an Italian real estate fund managed by Savills IM SGR, the off-market transaction represents Barings’ first deal in the Italian residential property market and makes it one of the first major real estate companies to invest in the country’s emerging BTR market.
Finance.Yahoo | “Dexus Buys AMP’s Australian Real Estate and Infrastructure Business for A$1 Billion ($713 Million)”
Real estate firm Dexus has agreed to acquire AMP Ltd.’s Australian real estate and infrastructure business for about A$1 Billion ($713 Million) in cash. The Sydney-based real estate investment trust will pay A$250 Million in cash upfront for Collimate Capital’s domestic operation, according to a statement on Wednesday, confirming an earlier Bloomberg News report. There’s an earn-out that could reach another
A$300 Million, subject to client retention for nine months after the deal’s completion.
MFE | “RealSource Properties Launches $390 Million Multifamily REIT with 10 Properties”
Salt Lake City-based RealSource Properties has launched a multifamily-focused real estate investment trust (REIT). Since starting its investment and management platform two decades ago, the firm is extending an opportunity to accredited investors to join it in a portfolio of multifamily communities.
If you would like to learn more about the large platform events we are tracking, please reach out to David Stanford or John Seaton. If you would like to suggest a news or media outlet that should be considered, please contact us.
Large Platform Events | Issue 26.15
Large Platform Events | Issue 26.14
