3.3.22 | This week we recognized 6 capital related transactions with a disclosed value of $12.5 Billion USD.
Summary of Transaction Headlines
Businesswire | “Industrial Logistics Properties Closes $4 Billion Monmouth Real Estate Purchase”
Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that it has completed its acquisition of Monmouth Real Estate Investment Corporation (NYSE: MNR) for $21.00 per share in an all-cash transaction, valued at approximately $4.0 Billion, including committed MNR acquisitions, transaction costs and the assumption of approximately $323 Million of debt.
IREI | “W.P. Carey to Acquire CPA:18 for $2.7 Billion”
W.P. Carey announced that its board of directors has unanimously approved entry into a definitive-merger agreement pursuant to which Corporate Property Associates 18 – Global Incorporated (CPA:18) will be acquired by W. P. Carey in a transaction valued at approximately $2.7 Billion, including the assumption of debt.
Bloomberg Quint | “Paramount Group Gets $2.6 Billion Buyout Offer from Monarch Alternative Capital LP”
Investment firm Monarch Alternative Capital has offered to acquire real estate manager Paramount Group Inc. for $12 per share. The non-binding offer values Paramount at about $2.6 Billion, or a roughly 29% premium to where shares in the company closed on Thursday. Advisory clients of Monarch own about 5.5% of Paramount, according to a letter reviewed by Bloomberg News, making it the company’s sixth largest shareholder, according to data compiled by Bloomberg.
IREI | “Hines Brings €1.5 Billion Value-Add Fund to European Market”
Hines is planning to launch a new investment vehicle focused on the European market — Hines European Value Fund 3 (HEVF 3). With a fundraising target of €1.5 Billion, HEVF 3 is expected to be the firm’s largest closed-end fund to date in its growing flagship series of value-add funds in Europe.
IPE Real Assets | “Brookfield Fund Makes €1.4 Billion Bid for Belgian Office REIT Befimmo”
RE Invest Belgium, an entity owned by a Brookfield-managed real estate fund, has made a €1.4 Billion takeover bid for Belgian office real estate investment trust Befimmo. RE Invest Belgium is offering Befimmo shareholders €47.50 for each share, an offer which represents a 51.8% premium over the last closing price of €31.30.
Bloomberg | “Former Sears Landlord Seritage is Said to Consider a Sale”
Seritage Growth Properties, a real estate investment trust that emerged from the Sears bankruptcy, is exploring strategic alternatives including a sale of the company, according to people familiar with the matter. New York-based Seritage, which owns the property from Alaska to Florida, is working with the investment bank Barclays Plc on the plans. Seritage is open to a full sale of the company or piecemeal disposal of assets, the people said, asking not to be identified because the matter is private.
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 here or at +1 214 292 7000.
