5.12.2022 | This week we recognized 5 capital related transactions with a disclosed value of $34.2 Billion USD.
Summary of Transaction Headlines
The Wall Street Journal | “Prologis Offers to Buy Duke Realty in Nearly $24 Billion Deal”
Prologis Inc., the world’s largest owner of warehouse space, said it offered to buy Duke Realty Corp. in a nearly $24 Billion deal, a vote of confidence in the e-commerce business at a time when investors are getting nervous about its growth. Prologis controls a 1 Billion Square Foot global network of warehouses and distribution centers, including facilities used by retail and logistics companies such as Amazon.com Inc., Home Depot Inc. and FedEx Corp.
Benzinga | “Welltower Made All-Cash $5 Billion Bid for Healthcare Realty Trust”
Welltower Inc., the big healthcare-focused real-estate investment trust, made a nearly $5 Billion all-cash bid for Healthcare Realty Trust Inc. shortly after the smaller REIT agreed to merge with a rival earlier this year, according to people familiar with the matter. Welltower remains interested after its bid was rejected and plans to say as much to Healthcare Realty this week, the people said.
Property Week | “Capco and Shaftesbury Agree £3.5 Billion ($4.3 Billion) Merger”
Capital & Counties Properties and Shaftesbury are in advanced talks on a £3.5 Billion ($4.3 Billion) merger that would bring such London tourist destinations as Covent Garden and Soho into a single West End property giant. Shaftesbury’s Seven Dials asset will form part of a merged group with 2.9 Million Square Foot of prime West End real estate.
ABC 15 Arizona | “Taylor Morrison Forges $850 Million Joint Venture with New Build-To-Rent Investor”
On the heels of opening its first build-to-rent community in partnership with Mesa-based Christopher Todd Communities, Taylor Morrison Home Corp. has forged a new partnership with a global investment firm to expand even further into this niche market. The Scottsdale-based homebuilder has formed an $850 Million joint venture with VP Moondance Holdings LLC, an affiliate of Minneapolis-based Varde Partners to acquire undeveloped land on which to construct and operate build-to-rent projects, according to a May 2 filing with the U.S. Securities and Exchange Commission.
GlobeSt | “Colliers is Acquiring 65% Stake in Rockwood Capital”
CRE services giant Colliers is acquiring a 65% stake in Rockwood Capital LLC, an investment firm with more than $12 Billion of assets under its management. Financial terms were not disclosed for the deal, which is expected to close in Q3 this year. According to reports, Rockwood’s senior leadership team will retain the balance of equity in the investment firm and continue to lead the firm under a partnership agreement. Rockwood’s portfolio includes multifamily, office, mixed-use, life science, hospitality, and retail properties.
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.
