Goodwin Procter, Jones Day and Morrison & Foerster Advise on $3B REIT Deal
A real estate M&A team from Goodwin Procter represents Monogram Residental Trust of Plano in its pending $3 billion acquisition.
July 06, 2017 at 03:00 PM
2 minute read
A real estate M&A team from Goodwin Procter represents Plano-based Monogram Residential Trust in its pending acquisition by a new fund led by Greystar Real Estate Partners in a deal valued at $3 billion. Jones Day represents Greystar, while Morgan Stanley, Monogram's financial adviser, turned to Morrison & Foerster.
Monogram is a real estate investment trust with investments in 49 multifamily communities in 10 states, while Greystar, based in Charleston, South Carolina, is the nation's largest operator of apartments, managing more than 475,000 units.
On July 4, Monogram announced that it has entered into a definitive merger agreement to be acquired by Greystar Growth and Income Fund, the new fund led by Greystar Real Estate Partners and initial funding capital partners that are affiliates of APG Asset Management and Ivanhoe Cambridge. The $3 billion value includes debt that will be assumed or refinanced.
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