Billion – Page 2 – Real Estate Investment Trusts

September 9, 2015

Blackstone to Purchase Strategic Hotels for $6 Billion

Strategic Hotels & Resorts, Inc. (NYSE: BEE) said Sept. 8 that private equity firm Blackstone Group LP has agreed to purchase the REIT for approximately $ 6 billion.

Blackstone agreed to pay $ 14.25 in cash for each Strategic share. That represents a premium of approximately 13 percent above the intra-day trading price on July 23, when a news report pointed to a potential transaction. The acquisition includes Strategic subsidiary Strategic Hotels Funding LLC as well as all of the firm’s outstanding debt.

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August 19, 2015

Office REIT SL Green Completes Purchase of NYC Building for $2.6 Billion

SL Green Realty Corp. (NYSE:SLG) said Aug. 18 that it completed the acquisition of office property 11 Madison Avenue in New York City for $ 2.6 billion.

The deal includes approximately $ 300 million in costs associated with lease-stipulated improvements to the property.

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July 24, 2015

Net Lease REIT STORE Capital on Track for $1 Billion in Acquisitions in 2015

Chris Volk, president and CEO of STORE Capital Corp. (NYSE: STOR), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

STORE is an acronym for single-tenant operational real estate, which is the company’s target market. STORE’s tenants operate across a variety of industries within the service, retail and industrial sectors. Restaurants, health clubs, early childhood education centers, movie theaters and furniture stores represent the top industries in its portfolio.

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June 23, 2015

Home Properties Agrees to $7.6 Billion Sale to Private Equity Firm

Multifamily REIT Home Properties, Inc. (NYSE: HME) said June 22 that it has agreed to be purchased by an affiliate of Lone Star Funds, a global private equity firm, in a deal valued at approximately $ 7.6 billion including debt.

Home Properties also said it agreed to contribute a portfolio of up to six properties containing up to 3,246 units to multifamily REIT UDR, Inc. (NYSE: UDR) in exchange for a combination of cash and newly issued units in a newly-formed subsidiary of UDR.

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April 20, 2015

Industrial REIT Prologis Buying KTR Capital for $5.9 Billion

Prologis, Inc. (NYSE: PLD) said April 19 it has agreed to buy industrial property owner KTR Capital Partners through a joint venture for a total of $ 5.9 billion.

The properties will be acquired by Prologis U.S. Logistics Venture (USLV), a consolidated joint venture with Norges Bank Investment Management (NBIM), the manager of the Norwegian Government Pension Fund Global. Prologis holds a 55 percent stake in the joint venture.

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September 17, 2014

Washington Prime to Buy Glimcher Realty in $4.3 Billion Deal

Washington Prime Group Inc. (NYSE: WPG) said Sept. 16 that it intends to buy Glimcher Realty Trust (NYSE: GRT) in a stock and cash transaction valued at approximately $ 4.3 billion.

The new company will be known as WP Glimcher, retaining Washington Prime’s ticker symbol on the NYSE. The company will maintain Glimcher Realty’s headquarters in Columbus, Ohio. Mark Ordan, CEO of Washington Prime, will serve as executive chairman of the combined company. Michael Glimcher, CEO of Glimcher, will serve as its vice chairman and CEO.

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September 2, 2014

Select Income REIT to Buy Cole Corporate Income Trust in $3 Billion Deal

Select Income REIT (NYSE: SIR), which primarily owns properties net leased to single tenants, said Sept. 2 that it has reached a deal to pay approximately $ 3 billion in cash and stock to acquire Cole Corporate Income Trust (CCIT), a public, non-listed REIT (PNLR).

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August 6, 2014

NorthStar Realty Finance Plans to Acquire Griffin-American Healthcare REIT for $4 Billion

Diversified commercial real estate investment company NorthStar Realty Finance Corp. (NYSE: NRF) said Aug. 5 that it plans to acquire Griffin-American Healthcare REIT II, Inc., a public, non-listed REIT (PNLR), in a stock and cash transaction totaling $ 4 billion.

The transaction is expected to close in the fourth quarter. Under the terms of the deal, Griffin-American stockholders will receive $ 7.75 per share in cash and $ 3.75 per share in NorthStar Realty common stock. As part of the deal, NorthStar would assume $ 600 million in debt from Griffin-American.

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June 2, 2014

Ventas to Purchase ARC Healthcare in $2.6 Billion Deal

Ventas, Inc. (NYSE: VTR) said June 2 it has agreed to purchase American Realty Capital Healthcare Trust, Inc. (NASDAQ: HCT) in a stock and cash transaction valued at $ 2.6 billion.

Under the terms of the agreement, ARC Healthcare shareholders will have the option to receive either 0.1688 Ventas common shares or $ 11.33 in cash for each share of ARC Healthcare stock they own, representing a premium of approximately 14 percent over ARC Healthcare’s closing stock price on May 30.

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