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EVOQ Properties Sold for $357M

LOS ANGELES—A partnership between Atlas Capital Investors III, Square Mile Capital Management and USAA Real Estate Co. buys the company for its significant downtown portfolio.

By Kelsi Maree Borland | Updated on August 18, 2014

LOS ANGELES—A partnership between Atlas Capital Investors III, Square Mile Capital Management and USAA Real Estate Co. has agreed to purchase EVOQ Properties, a Los Angeles-based owner of commercial real estate properties. The transaction is valued at $357.4 million and includes the assumption of EVOQ Properties’ debt.

The transaction has already been approved by EVOQ Properties’ board members and MMPI Acquisitions, its majority stockholder, and is expected to officially close in October 2014. Stockholders will earn approximately $12.96 per share, which is also subject to adjustments and the terms of the transaction, which will be given directly to the stockholders.

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