IPC US REIT's portfolio is top heavy with such top tier assetsas the 574,812-sf Loop Central at 4848 Loop Central Dr. inHouston's Galleria. It also owns properties in Florida, Kansas,Kentucky, Louisiana, Massachusetts, Maryland, Nevada, NewHampshire, New Jersey, New York, Ohio, Pennsylvania and Tennessee.Altogether the portfolio stretches across 9.6 million sf in 13states.
Since the August announcement, IPC US REIT has been seekingbuy-out offers under the initial agreement's "go-shop" clause,which expired Sept. 30; however, all signs over the course of thelast few months pointed to a successful closing by BehringerHarvard--if only because IPS US REIT had conducted an exhaustivesearch for a buyer prior to inking the definitive agreement withthe Dallas-based REIT.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
