EOP Fuels the REIT Fire
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The Motley Fool - On Monday, Equity Office Properties Trust (NYSE: EOP - News) announced that it had agreed to be acquired by The Blackstone Group in a transaction valued at approximately $36 billion. The terms of the agreement call for Blackstone to acquire all of the outstanding common stock of Equity Office at an 8.5% premium over its closing price on November 17, 2006.
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How to unload your property during a real estate downturn.
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Blackstone Group LP, the private equity firm that bought Equity Office Properties Trust in the biggest leveraged buyout ever, has sold 53 buildings in Washington, D.C., Portland, Ore., and Seattle for $7.55 billion, said three people with direct knowledge of the transactions.
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The company is in a phase of explosive growth, and that costs money.
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Commercial real estate is positively smoking. That was made plain by two big deals this week, one of them (nominally) the biggest leveraged buyout in history.
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The spinoff, that old ploy for companies keen to unlock value, is back in vogue. The trend is due partly to increased pressure on chief executives to boost shareholder returns as activist investors prowl for undervalued companies and leveraged buyout firms itch to put their billions to work.
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Business & money: Wall Street threatened by crumbling housing market.
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Conventional wisdom about wealth through real estate might be wrong.
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Many exchange-traded funds hit the jackpot -- or strike out entirely.
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Last year was the worst on record for the FTSE property sector, according to JP Morgan. But so far this year, it has been the top performer, recording a 4.9 per cent rise in January. Investors have snapped up shares in real estate investment trusts (Reits), attracted by discounts to net asset value of around 30 per cent. Activist funds are also moving in, with Laxey Partners about to float its &pound;500m Terra Catalyst Fund, which will build stakes in underperforming property companies and funds. Lehman Brothers (NYSE:LEH) is now predicting favourable dividend yields for Reits in 2008. ...
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Investor profiles are shifting, regulations are changing and buyouts are starting to heat up.
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Bear-market ETFs are suddenly red hot.
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About six years ago, John Peterson pulled his retirement accounts out of mutual funds. As owner and president of Profitable Property in Rockville he knows a thing or two about the real estate market. So Peterson took his retirement assets and invested them in property.
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Pulling a growth stock off the value investor's plate.
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The real estate community is talking about how private firms are gobbling up publicly traded real estate investment trusts. The latest example is Blackstone Group's agreement last week to pay $36 billion for Chicago-based Equity Office Properties Trust, whose seven buildings in the District include...
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Lessons from the lords of leveraged buyouts.
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In the heady days of the dot-com boom, when pet food and groceries were sold on the Internet and venture capitalists seemingly tossed double- digit millions at any business plan with online possibilities, real estate stood waiting to be part of the