The REIT Take-Private Process: Trends And Considerations
Law360 (August 31, 2018, 4:00 PM EDT) -- Current market conditions have set the stage for a wave of real estate investment trust public-to-private transactions. This past year was marked by several high-profile REIT take-private transactions, involving significant players like the Blackstone Group, Brookfield Property Partners and Greystar Real Estate.
Driving this REIT privatization activity is the differential between private and listed market values and the mountain of available capital on the private side. For private equity funds, flush with record levels of cash, REITs trading at a discount to net asset value represent an attractive investment opportunity. With shares trading at a discount, it’s difficult for public REITs...
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