Purchase – 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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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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