King & Spalding represented Dutch real estate investment company Wereldhave NV on the $720 million sale of its 17-property U.S. portfolio to private equity firm Lone Star Funds. The transaction was completed yesterday, March 25.
The divested portfolio includes 655 W. Broadway in the Marina District of San Diego, the four-building Eilan mixed-use complex in San Antonio, and 15 additional properties in Texas and the Washington, D.C., metro area. The $720 million purchase price exceeded many analysts’ expectations and represents approximately five percent above book value for the properties.
For more information about the transaction, click here.
Charlotte-based King & Spalding partner Mark V. Thigpen is serving as the lead lawyer on the Wereldhave deal team. Partner Peter M. Oxman (Houston), counsel Christopher D. McCoy (Charlotte) and associate Haley W. Burton (Charlotte) are also heavily involved in the matter.
