Thursday, 18 April 2013

M and A Database

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The following is sample, static data.

The above spreadsheet provides details on mergers and acquisitions transactions in the commercial real estate universe that have taken place since 2006.

 

Date AnnouncedDate CompletedTargetTarget TypeTarget Public/PrivateAcquirer%AcquiredValue $mlnTerms $/shrShare PxDebt $mlnBuyer AdviserBuyer AdviserBuyer AdviserBuyer AdviserSeller AdviserSeller AdviserSeller AdviserLenderALenderBLenderCBuyer/LegalSeller/LegalNotes
11/20/06 2/20/07 Equity Office Properties Trust REIT Public Blackstone Real Estate Partners 100 38300 54 44.72 16500 GS BoA BS MS ML GS BoA BS
11/6/06 PEND Four Seasons Investor Public Mgmt Group (w/Cascade Investments/Saudi Prince) 100 3700 82 63.87 ML Osler, Hoskin & Harcourt
11/6/06 PEND Columbia Equity Trust REIT Public JPMorgan Asset Mgt 100 502 19 16.91 213 GS WS Stroock, Stroock & Lavan Hunton & Williams
11/20/06 11/20/06 Lexington Strategic Asset Corp. Investor Private Lexington Corporate Properties Trust 44.2
10/31/06 PEND Trammell Crow Co. Service Private CB Richard Ellis 100 2200 49.51 39.1 364.4 Lazard
10/30/06 2/26/07 Trustreet Properties Inc. REIT Public GE Capital Solutions 100 3000 17.05 12.51 1500 WS BoA Hogan Hartson Pillsbury, Winthrop, Shaw, Pittman
10/24/06 Government Properties Trust REIT Public Record Realty Trust 100 511.6 10.75 9.17 288 Skadden Arps Slate Meagher & Flom Ballard Spahr Andrews & Ingersoll
10/23/06 2/27/07 Inland Retail Real Estate Trust Inc. REIT Public Developers Diversified Realty Corp. 100 6200 14 10 2300 Macquarie Capital Partners BoA Baker & Hostetler Duane Morris TIAA-CREF takes 85% stake
10/12/06 Reis Inc. Research Private Wellsford Properties Trust 77 90 Lazard Houlihan Lokey BMO King & Spaulding Bryan Cave
9/18/06 TravelCenters of America Inc. Investor Private Hospitality Properties Trust 100 1900 ML CS LB ML
9/13/06 12/20/06 Windrose Medical Properties Trust REIT Public Health Care REIT 100 877 426 DB JPM
9/8/06 9/8/06 Crescent Resources Investor Private Morgan Stanley Real Estate Fund V 49 2100 1200 MS BoA MS BoA
8/31/06 2/28/07 BNP Residential Properties Inc. REIT Public Babcock & Brown 100 766 24 17.24 450 BoA Skadden Arps DLA Piper Rudnick Gray Cary
8/21/06 8/21/06 Sizeler Property Investors Inc. REIT Public Revenue Properties Co. 100 409.2 15.1 15.1 85 WS RBC
8/21/06 12/1/06 Glenborough Realty Trust Inc. REIT Public Morgan Stanley Real Estate 100 1900 26 24 777 GS DB
8/3/06 1/25/07 Reckson Associates Realty Corp. REIT Public SL Green Realty Corp. 100 6100 43.31 42.8 2100 ML GS Greenhill WS Clifford Chance Wachtell Lipton Rosen and Katz
7/24/06 1/2/07 Newkirk Realty Trust REIT Public Lexington Corporate Properties Trust Merger 325 16.78 16.95 899
7/18/06 AmeriVest Properties Inc. REIT Public Koll Co./Idaho Public Employees 100 273 Trammell
7/10/06 Heritage Properties Trust Inc. REIT Public Centro Properties Group 100 3200 36.15 1500 JPM WS JPM Skadden Arps Hogan & Hartson
7/10/06 Pan Pacific Retail Properties REIT Public Kimco Realty Corp. 100 4000 70 1100 JPM ML Prudential Real Estate Investors partnered with Kimco.
6/29/06 10/5/06 Lexford Housing Division (unit of Equity Residential) Division Public Empire Group Holdings 100 1100 ML
6/15/06 ARCap Investors Investor Private CharterMac 89.3 284.5 UBS BS UBS BoA Paul Hastings Janofsky & Walker Orrick Herrington & Sutcliffe
6/9/06 12/11/06 Taberna Realty Finance Investor Private RAIT Investment Trust 100 606 UBS ML Sullivan & Cromwell Clifford Chance
6/8/06 Cohen Financial Service Private FirstService Corp. 51
6/5/06 10/5/06 Trizec Properties REIT Public Brookfield Properties/Blackstone 100 8900 29.01 2600 BS ML MS JPM ML Goodwin Procter Hogan & Hartson
5/23/06 7/27/06 Jameson Inns Inc. REIT Public JER Partners 100 371 2.97 2.25 190 FBR JMP Securities O'Melveny & Myers Jones Day
5/22/06 9/21/06 Boykin Lodging Co. REIT Public Westmont Hospitality/Cadim 100 416 11 134 RBC UBS
5/12/06 American Retirement Corp. Investor Private Brookdale Senior Living 100 1500 33 324 GS Cohen & Steers Skadden Arps Bass Berry & Sims
5/10/06 5/10/06 Rockwood Realty Associates Service Private DTZ 50 45 JPM Berkshire Capital
5/2/06 CNL Retirement Properties Inc. Investor Private Health Care Property Investors Inc. 100 5200 13.5 1600 Cohen & Steers UBS BoA Sullivan & Cromwell Greenberg Traurig
4/25/06 American Property Financing Inc. Lender Private Wachovia Bank
3/23/06 GMAC Commercial Mortgage Corp. Lender Private KKR/Five Mile Capital/Dune Capital 78 1500
3/7/06 Shurgard Storage Centers REIT Public Public Storage Inc. 100 5000 65.16 1800 GS Citi BoA Wachtell Lipton Rosen & Katz Willkie Farr & Gallagher
3/6/06 CarrAmerica Realty Corp. REIT Public Blackstone Real Estate Partners 100 5600 44.75 1900 Citi DB BoA GS DB BoA Citi Simpson Thacher & Bartlett Hogan & Hartson
2/21/06 MeriStar Hospitality Corp. REIT Public Blackstone Real Estate Partners 100 2500 10.45 1600 BS MS LB BS BoA ML Simpson Thacher & Bartlett Paul Weiss Rifkind Wharton & Garrison
2/17/06 3/31/06 Town and Country Trust REIT Public Morgan Stanley Real Estate 100 1224 40.2 33.9 515 MS Lazard Wachtell Lipton Rosen & Katz Skadden Arps Slate Meagher & Flom
2/16/06 Gale Real Estate Services Investor Private Mack-Cali Realty Corp. 545 Eastdil
2/13/06 Bedford Property Investors Inc. REIT Public LBA Realty 100 741.5 27.21 306
1/30/06 Fairmont Hotels & Resorts Inc. Investor Private Colony Capital 100 3900 45 600 JPM UBS Scotia Avington Intl
12/19/2006 PEND Cushman & Wakefield Service Private IFIL Group (Italy) 67.5 975 Perella Weinberg JPM Citi Paul Weiss Rifkind Wharton & Garrison Latham & Watkins; Millbank Tweed IFIL has option to buy another 8.1 percent of Cushman. Stake was sold by Rockefeller Group.
12/21/2006 PEND National Health Realty Inc. Investor Public National HealthCare Corp. 75 225 22.4 21.29 28 Avondale Partners 2nd Gen Capital Cahill Gordon & Reindel Waller Lansden Dortch & Davis
12/26/2006 PEND Holiday Retirement Investor Private Fortress Investment Group 100 6500 Citi GS BoA Cohen & Steers Citi GS Skadden Arps Foster Pepper
6/21/07 PEND Equity Inns Inc. REIT Public Whitehall Street Real Estate LP 2007 100 2200 23 19.41 635 GS ML Sullivan & Cromwell Hunton & Williams
6/20/07 6/20/07 PRN Marshall Capital Lender Private Capital Trust Inc. 100 4.4
6/18/07 6/18/07 Colliers Monroe Friedlander Broker Private FirstService Corp. FirstService acquired majority interest.
6/8/07 6/8/07 DealCentral software Private Backshop 100
6/4/07 PEND Xceligent software Private Loopnet Loopnet is buying a minority interest.
6/1/07 PEND Sonnenblick Goldman broker Private Cushman & Wakefield Cushman is buying majority interest in deal valuing SonnGold at $100mln-$150mln
5/31/07 PEND Investa Properties Ltd. Prop Trust Public Morgan Stanley Real Estate 100 5500 2.55 2000 MS UBS Gilbert & Tobin
5/31/07 PEND Genesis Healthcare Corp. Investor Public JER Partners 100 1900 69.35 475
5/29/07 PEND Archstone Smith Trust REIT Public Lehman/Tishman Speyer 100 22200 60.75 51 6900 LB BoA MS LB BoA Wachtell, Lipton, Rosen & Katz Weil Gotshal & Manges LB/BoA Syndicate lending $17.1bln of debt; $4.85bln of equity. Kill fee is $235mln.
2/23/07 5/25/07 Apple Hospitality Two Inc. Investor Private ING Clarion Partners 100 877 350
5/23/07 Central Parking Corp. Investor Public Lubert-Adler Partners 100 746 22.53 15.5 Blackstone Kohlberg & Co., Chrysalis Capital Partners teamed with Lubert-Adler.
5/23/07 Crescent Real Estate Equities Inc. REIT Public Morgan Stanley Real Estate 100 6500 22.8 3100
7/5/07 PEND Hilton Hotels Corp. Investor Public Blackstone Real Estate Partners 100 26500 47.5 28.5 6000 GS BS BoA MS/DB UBS Moelis Advisors BS BoA DB Simpson Thacher & Bartlett Sullivan & Cromwell $560-$600mln kill fee. GS and MS also lenders
6/25/07 PEND America First Apartment Investors Inc. REIT Public Sentinel Real Estate Corp. 100 532 25.3 19 250.5 Lazard Paul Hastings Clifford Chance
7/12/07 PEND DP Industrial Investor Private ProLogis 100
4/24/07 7/18/07 Highland Hospitality Corp. REIT Public JER Partners 100 2100 19.5 18 210 WS Citi BS ML WS O'Melveny & Myers Hogan & Hartson
6/4/07 PEND Slough Estates USA Investor Private Health Care Property Investors Inc. 100 2900 1200 BoA Barclays UBS Skadden Arps
5/22/07 PEND Fremont Investment & Loan Lender Public iStar Financial 100 1900 iStar is buying entire lending operation, plus 30 percent stake in Fremont's $6.5 bln loan portfolio. Group led by Gerald J. Ford is buying preferred stock in Fremont Loan.
5/22/07 PEND NNN Realty Advisors Investor Private Grubb & Ellis JMP Securities LB Zuckerman Gore & Brandeis Alston + Bird
5/16/07 PEND Gregory Greenfield & Associates Investor Private Babcock & Brown 100
5/9/07 7/9/07 ARCS Commercial Mortgage Lender Private PNC Financial Services 100
5/8/07 PEND Florida East Coast Industries Investor Public Fortress Investment Group 100 3500 84 330 MS Skadden Arps Greenberg Traurig
4/30/07 PEND Eagle Hospitality Properties Trust REIT Public Apollo Real Estate Advisors 100 424.5 13.35 11.9 187.5 MS
4/24/07 4/24/07 Red Roof Inns Investor Private Citigroup/Westbridge Hospitality Fund 100 1300 Citi BoA
1/16/07 4/20/07 Sunrise Senior Living REIT Investor Public Ventas Inc. 100 1970 700 ML TD
4/18/07 Affordable Residential Communities Inc. REIT Public Farallon Capital Management 100 1800 9.4 Paul Weiss Skadden Arps $20mln kill fee
4/18/07 6/12/07 Extended Stay Hotels Investor Private Lightstone Group 100 8000 7400 LB Citi WS BS BoA ML WS BS Dechert Simpson Thacher & Bartlett Arbor Realty, Prime Group provided preferred equity.
4/16/07 6/29/07 Innkeepers USA REIT Public Apollo Real Estate Advisors 100 1500 17.75 700 JF Capital LB UBS LB Skadden Arps Wachtell, Lipton, Rosen & Katz
4/6/07 Summerville Senior Living operator Private Emeritus Corp. 100 255.5 Summerville was owned by Apollo.
4/3/07 7/2/07 Winston Hotels Inc. Investor Public Inland American Real Estate Trust Inc. 100 850 15 13 52.1 Raymond James LB
2/16/07 4/3/07 Mills Corp. REIT Public Simon Property Group/Farallon Group 100 7900 25.25 6260 ML LB CS
2/2/07 Global Real Analytics Research Private Charles Schwab Corp. 100
2/2/07 2/2/07 Bremner Healthcare Estate Developer Private Duke Realty Corp. 100
1/29/07 1/29/07 BridgeStreet Worldwide Investor Private Sorrento Asset Management 100 40.5 Cantor Fitzgerald Credit Suisse DLA Piper Bridgestreet, a manager of 10,000 corporate housing units, was sold by Interstate Hotels & Resorts
1/19/07 4/12/07 CNL Hotels & Resorts REIT Private Morgan Stanley/Ashford Hospitality Trust 100 6600 MS WS Eastdil BoA UBS Houlihan Lokey MS WS Goodwin Procter Sidley Austin Ashford paid $2.4bln for 51 properties with 13,524 rooms. MS bought 8 hotels with 5,817 rooms.
9/20/06 3/19/07 Centracore Properties Trust REIT Public GEO Group 100 396.1 32 40 LB Citi BNP Paribas Akerman Senterfitt Goodwin Procter Centercore is the former Correctional Properties Trust
2/28/07 6/18/07 New Plan Excel Realty Trust REIT Public Centro Properties Group 100 6200 33.15 2500 JPM JPM Skadden Arps New Plan was acquired by Centro Properties Group and Centro Retail Trust.


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