Published 3 February 2007 Equity Office Properties Trust said on Friday its board of trustees had unanimously reaffirmed recommendation of the proposed US54/share all-cash takeover by affiliates of the Blackstone Group, in preference to a new $US56 cash & scrip bid from Vornado Realty Trust. The Blackstone bid started at $US48.50 and Vornado initially came […]
Equity Office Properties Trust
New bid puts $US39.2 billion price on Equity Office
Published 18 January 2007 The world’s biggest listed real estate investment trust, Equity Office Properties Trust, said today it had received a $US52/share ($US39.2 billion) counter offer to the $US48.50/share ($US36 billion) privatisation proposal due to go to shareholders on Monday 5 February Chicago time. The new offer would be 60% cash, 40% Vornado Realty […]
Equity Office vote on 5 February
Published 29 December 2006 Equity Office Properties Trust, biggest reit in the US, has called a special meeting in Chicago on Monday 5 February to decide the trust’s fate. Private equity investor Blackstone Group has proposed a $US48.50/share offer for 100% of Equity Office after more than a year of behind-the-scenes proposals which the reit’s […]
Biggest reit – Equity Office – going private
Published 22 November 2006 The world’s biggest listed real estate investment trust, the Chicago-based Equity Office Properties Trust, will be privatised in a $US36 billion deal with The Blackstone Group. An affiliate of The Blackstone Group, Blackstone Real Estate Partners, has signed a definitive merger agreement to acquire Equity Office for $US48.50/share in cash. That […]
Equity Office continues industrial selldown
Equity Office Properties Trust, biggest office building owner in the US, has sold 29 California industrial buildings to RREEF, a division of Deutsche Bank Group’s DB Real Estate, for $US210.3 million in cash & some building swaps. Equity Office gets $US73.3 million in cash and will take 5 RREEF office buildings in 2 Chicago & […]
Equity Office pays 5.54% for new $US1 billion of debt
Equity Office Properties Trust’s EOP Operating Ltd Partnership has issued $US1 billion of 4.75% senior unsecured notes due 15 March 2014. Including all offering expenses & the settlement of 2 forward-starting swaps, the all-in effective rate of the unsecured notes is 5.54%. Equity Office then entered into $US1 billion of fixed-to-floating interest rate swaps due […]
