(July 30, 2012, Weil News)
Weil represented Brookfield Asset Management’s Brookfield Property Group in reaching a definitive agreement to acquire a majority interest in Verde Realty, a Houston-based REIT that acquires, develops, owns and manages industrial distribution facilities. Verde shareholders will receive a per share price of $12.85 and the total equity value of the transaction is up to $366 million and enterprise value of approximately $900 million. The transaction is expected to close during the fourth quarter of 2012.
The Weil team was led by Corporate partners J. Philip Rosen and Shayla Harlev and Corporate associate David Laibstain, and included partners Scott Sontag, Annemargaret Connolly and Corey Chivers, and associates Gabriel Gershowitz, Melissa Meyrowitz, Alexander Liroff, R. Todd Hatcher, Kevin Yung, Rose Constance, David Kapson, Joshua Gelfand, Thomas Goslin, Erin Yates and Eric Leventhal.