Announced
Completed
Financials
Sources
Tags
Commercial REITs
real estate investing
office properties
United States
Public
Acquisition
Merger
Completed
Friendly
Single Bidder
Private Equity
Synopsis
Canada Pension Plan Investment Board and Parkway Inc announced that they have entered into a definitive agreement under which CPPIB will acquire 100% of Parkway, a Houston-based real estate investment trust, for $1.2bn, or $23.05 per share. The transaction is not subject to a financing condition and is expected to close in the fourth quarter of 2017, subject to customary closing conditions, including approval by Parkway’s stockholders. “Parkway fits well with CPPIB's long-term real estate strategy to hold stable, high-quality assets in large U.S. markets.” Hilary Spann, CPPIB Managing Director and Head of U.S. Real Estate Investments.
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