Our Work
Latham & Watkins Advises on Urstadt Biddle Properties’ US$1.4 Billion Acquisition by Regency Centers
May 18, 2023
Firm advised global real estate investment bank Eastdil Secured as financial advisor to Urstadt Biddle.
Regency Centers Corporation (Nasdaq: REG) and Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) have announced that the two companies have entered into a definitive merger agreement by which Regency will acquire Urstadt Biddle in an all-stock transaction, valued at approximately US$1.4 billion, including the assumption of debt and preferred stock. The combined company is expected to have a pro forma equity market capitalization of approximately US$11 billion and total enterprise value of approximately US$16 billion.
Latham & Watkins LLP represented Eastdil Secured, financial advisor to Urstadt Biddle, in the transaction with a corporate deal team led by New York partner Robert Katz and New York counsel Adam Rachlis.