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US: Real estate trust inks $3B buyout

By  |  September 2, 2014

Real estate investment trust Select Income REIT said Tuesday it has reached a deal to acquire Cole Corporate Income Trust in a $3 billion buyout.

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    The deal, which includes the assumption of nearly $300 million in debt, was made after Select Income agreed to sell 23 healthcare properties to Senior Housing Properties Trust. That divestiture is valued at about $540 million, say reports.

    Select Income’s board of directors has already approved of the deal, according to reports, and the trust expects the deal to finalize sometime next year, pending additional clearance by CCIT shareholders and competition authorities.

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