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Home / transaction / Berkshire Global Advisors acted as a financial advisor to RMS Investment Group, a significant investor in Forest City
Berkshire Global Advisors acted as a financial advisor to RMS Investment Group, a significant investor in Forest City
  • has been acquired by

    • Berkshire Global Advisors acted as a financial advisor to RMS Investment Group, a significant investor in Forest City

  • Date: July 2018
  • Sector: Related Sectors
  • Sub-Sector: REIT
  • Region: North America
  • Seller AUM: N/A

    • Seller Details
    Forest City Realty Trust, Inc. is a NYSE-listed national real estate company with $8.0 billion in consolidated assets. Forest City is principally engaged in the ownership, development, management and acquisition of commercial, residential and mixed-use real estate in key urban markets in the United States.

    Buyer Details
    Brookfield Asset Management Inc. is a leading global alternative asset manager with approximately $285 billion in assets under management. Brookfield has more than a 115-year history of owning and operating assets with a focus on real estate, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively

    Transaction Summary
    Brookfield Asset Management Inc. and Forest City Realty Trust, Inc. have entered into a definitive agreement under which a Brookfield real estate investment fund will acquire all of the outstanding shares of common stock of Forest City for $25.35 per share in an all-cash transaction valued at $11.4 billion, including Forest City’s proportionate share of consolidated and unconsolidated debt.

    The Forest City portfolio is comprised of a number of iconic assets across major gateway U.S. cities, including 6.3 million square feet of high-quality office space, 2.3 million square feet of premier life science assets, primarily in Cambridge, MA, 2.2 million square feet of retail space and 18,500 multifamily units, as well as five large-scale development projects in the New York Metro area, San Francisco and Washington, D.C.