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Columbia Property Trust to be acquired PIMCO in $3.9b transaction
Real Estate - SEPTEMBER 7, 2021

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Columbia Property Trust to be acquired PIMCO in $3.9b transaction

by Andrea Zander

Columbia Property Trust, an office REIT with a portfolio totaling 6.2 million square feet, has entered into a definitive agreement to be acquired by funds managed by Pacific Investment Management Co. (PIMCO) for $3.9 billion, including Columbia’s proportionate share of consolidated and unconsolidated debt.

Under the terms of the agreement, which has been approved unanimously by Columbia’s board of directors, PIMCO will acquire all of the outstanding shares of Columbia common stock for $19.30 per share in cash. This represents a premium of approximately 27 percent over Columbia’s unaffected closing share price on March 12, 2021. During this time period, the high-barrier office sector has traded down 5 percent.

The transaction is expected to close as early as year-end, subject to approval by Columbia’s shareholders and the satisfaction of other customary closing conditions. Upon completion of the transaction, Columbia’s common stock will no longer be listed on

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