NEW YORK CITY-In the past 10 years, Globest.com has reported ona host of mega-sized M&A deals. In a close race, Blackstone’s$36-billion purchase of Equity Office Properties in February 2007took the top spot. That deal scored 47% of respondents. Finishingclose behind were the Trammell Crow-CB Richard Ellis merger in 2006at 40% and the Staubach Co. merger with Jones Lang LaSalle in 2008at 35%.

|

In gauging the significance of the EOP/Blackstone transaction,one respondent simply called it “the bellwether deal.” Anotherrespondent praised “Samuel Zell. Amazing how Zell knows just theright time to max out his office investment.” However, anotherrespondent, while putting EOP/Blackstone at the top of his list,was critical of the result, calling it, “A quick dissolving of thebiggest portfolio of properties to insignificant status.”

|

While not near the size or scope of the EOP deal, last monthBlackstone Real Estate Advisors agreed to buy ProLogis’ industrialportfolio of 180 properties, minority interest in the Hilltop NewOrleans Riverside hotel and interest in three ProLogis propertyfunds for $1.02 billion.

|
|

Those who thought the Trammell Crow/CBRE merger was tops hadtheir reasons. “The world's largest real estate services company isborn,” one respondent wrote, adding that, “New service platformsare created industry-wide to exploit new business models. Another respondent stated that the deal, “created adevelopment/brokerage/investment powerhouse.”

|

The rest of the best M&As of the past decade were:GGP/Brookfield (No. 4); Insignia/CB Richard Ellis (No. 5);Hilton/Blackstone (No. 6); Archstone Smith/Tishman (No. 7);ProLogis/Catellus (No. 8); Trizec/Blackstone & Brookfield (No.9); and Rockefeller Group/Mitsubishi (No. 10).

|

Tomorrow: Look for the results of the Globest.com survey“Worst Deals.”

|

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.