Columbia Property Trust completed the acquisition of Normandy Real Estate Management for $100m.

Columbia Property Trust, which is engaged in the ownership, development, acquisition, and management of real estate assets consisting primarily of Class A office properties, completed the acquisition of Normandy Real Estate Management, a privately owned real estate investment manager, developer and operator, for $100m. This consideration consisted of $13.5m in cash and approximately $86.5m in convertible preferred units, issued at $26.50 per share. “This acquisition supports our strategy to drive financial performance for investors by strengthening our capabilities across key markets, while adding a full development arm and expanded pipeline. Our successful leasing and repositioning efforts have produced a well-leased portfolio of exceptional assets in New York, San Francisco, Washington, D.C. and Boston. The addition of this highly capable team’s talent, relationships, and market knowledge will fuel additional opportunities for us to build upon our long-term record of value creation for our shareholders,” Nelson Mills, Columbia CEO.