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Columbia Property Trust has entered into a definitive agreement to be acquired by funds managed by Pacific Investment Management Company LLC, or PIMCO,  for $3.9 billion including debt. PIMCO will acquire all of the outstanding shares of Columbia common stock for $19.30 per share in cash, representing a premium of approximately 27% over Columbia’s closing share price on Friday, March 12, 2021.

This transaction is the culmination of a comprehensive strategic review process undertaken by Columbia’s Board of Directors, which was publicly announced in the spring of this year. As part of this process, Columbia’s Board and advisors invited nearly 90 potential counterparties to participate, including strategic acquirers, private equity firms and other investment management firms.

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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.

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