US Edition2 REITs Sell For Combined £1.2B As Consolidation Continues
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2 REITs Sell For Combined £1.2B As Consolidation Continues
The consolidation in the UK listed real estate sector continues, with two REITs agreeing to be sold for a combined total of nearly £1.2B on Friday. LondonMetric Property said it would buy Urban Logistics REIT for £700M in a cash-and-shares deal, and U.S. senior living specialist CareTrust REIT completed a deal to buy smaller UK equivalent Care REIT for £450M. The price LondonMetric is paying for Urban Logistics REIT represents a 21% premium to …
LondonMetric firms up £698.9m bid for Urban Logistics - QuotedData
LondonMetric and Urban Logistics REIT have reached agreement on the terms of a recommended cash and share offer in which LondonMetric will acquire Urban Logistics for £698.9m. Each Urban Logistics share will be entitled to receive 0.5612 new LondonMetric shares and 42.8p in cash. On the basis of LondonMetric’s closing price of 191.5p, the acquisition values …
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