Nov
03

EDENS to Buy AmREIT in $763M Deal

By

AmREIT Inc. (NYSE: AMRE), a retail and mixed-use REIT based in Houston, has entered into a definitive agreement with Edens Investment Trust (EDENS) under which EDENS will acquire all outstanding shares of common stock of AmREIT for $26.55 per share in an all-cash transaction valued at approximately $763 million. AmREIT’s board of directors has unanimously approved the transaction.

EDENS is a national retail real estate owner and developer with a 48-year track record. The Columbia-based company owns a $4.2 billion portfolio of urban retail centers.

“This opportunity is an important step in our strategic plan to complement, enhance and expand our platform and existing portfolio of leading urban retail centers,” says Terry Brown, chairman and CEO of EDENS.

Completion of the transaction, which is currently expected to occur in the first quarter of 2015, is contingent upon the approval of AmREIT’s stockholders, who will vote on the transaction at a special meeting on a date to be announced.

READ MORE HERE

Be Sociable, Share!
    Categories : Columbia, National News

    Comments are closed.