CPPIB to acquire Houston REIT Parkway for $1.2 bln
Canada Pension Plan Investment Board (CPPIB) has agreed to acquire 100 percent of Parkway Inc (NYSE: PKY), a real estate investment trust (REIT) that owns and operates office properties located in sub-markets in Houston, Texas. CPPIB agreed to pay US$1.2 billion, or US$23.05 per share. TPG Capital and its affiliates, which hold about 9.8 percent of the company's outstanding common stock, have agreed to vote in favour of the deal. It is expected to close in the fourth quarter. Parkway owns about 8.7 million square feet across 19 Houston office properties.
30 June 2017•3 mins read
