YODA PLC has completed its acquisition of the Transamerica Pyramid Center, closing the transaction March 27.
The total acquisition cost for the transaction was $725 million, comprising a final discounted purchase price for the properties of $691.6 million and $34 million related to the final settlement with asset manager Michael Shvo and Shvo Group LLC, Shvo Property Management and Shvo Brokerage. This settlement includes commission on the transaction for both sides, termination of all services and involvement with the property, and the buyout of a right of first offer agreement.
The consideration was settled with a $100 million deposit paid upon signing of the sale and purchase agreement, with the remaining balance paid upon completion March 27.
The acquisition was financed through a $300 million bank loan, with the remaining $425 million, plus legal and related expenses, funded through equity.
“The acquisition of the Transamerica Pyramid Center repres
