BSR REIT completes strategic asset sale with Avalon Bay Communities Inc.
Goodmans LLP advised BSR REIT in connection with the sale of an aggregate of nine properties, consisting of 2,701 apartment units, to AvalonBay Communities, Inc. for gross consideration valued at approximately US$618.5 million, a significant portion of which were paid via Avalon Bay equity.
The transaction was an important capital markets transaction for each of BSR REIT and Avalon Bay, as it is expected to simplify BSR REIT's restrictive capital structure, and strategically position both BSR REIT and Avalon Bay for value enhancing initiatives.
BSR is a multifamily REIT based in the US that trades on the TSX in Canada.
Avalon Bay is the largest US multi-family REIT in the US that trades on the NYSE.
Featured Work
-
REITS and Income Securities
InterRent REIT to be acquired by consortium that includes CLV Group in partnership with GIC in $4 billion all-cash transaction
Goodmans LLP is acting for a consortium that includes CLV Group Inc. in partnership with GIC in connection with the acquisition of InterRent REIT, whereby pursuant to a plan of arrangement a newly… -
REITS and Income Securities
BSR REIT completes strategic asset sale with Avalon Bay Communities Inc.
Goodmans LLP advised BSR REIT in connection with the sale of an aggregate of nine properties, consisting of 2,701 apartment units, to AvalonBay Communities, Inc. for gross consideration valued at… -
REITS and Income Securities
NexPoint Hospitality Trust acquired by NexPoint Diversified Real Estate Trust
Goodmans LLP advised NexPoint Hospitality Trust in connection with its going private transaction with NexPoint Diversified Real Estate Trust… -
Aging and Health Care
Welltower to acquire Amica Senior Lifestyles portfolio for $4.6 billion
Goodmans LLP is advising Welltower Inc. in connection with its announced acquisition of a portfolio of senior housing communities from Amica Senior Lifestyles and Ontario Teachers' Pension Plan for… -
Capital Markets
Northwest Healthcare Properties Real Estate Investment Trust announces inaugural unsecured debentures offering
Goodmans LLP advised Northwest Healthcare Properties REIT in connection with a private placement offering of $500 million aggregate principal amount of senior unsecured debentures of the REIT in two… -
Mergers and Acquisitions
Northwest Healthcare Properties REIT sells UK portfolio
Goodmans LLP acted as Canadian tax and securities law counsel to Northwest Healthcare Properties Real Estate Investment Trust in connection with the sale of its UK portfolio to Assura PLC for gross…