September 08, 2021
DigitalBridge Group, Inc., a leading global digital infrastructure REIT, announced it has reached an agreement to sell its Wellness Infrastructure business to an investment group comprised of two leading real estate investment firms, Highgate Capital Investments (Highgate) and Aurora Health Network in a transaction valued at US$3.2 billion. The total consideration includes US$316 million of net value to DigitalBridge (comprised of US$226 million in cash and a US$90 million 5-year seller note) and the assumption of US$2.6 billion in consolidated investment-level debt and US$294 million of subsidiary-level debt.
Latham & Watkins LLP represents Highgate Capital Investment and Aurora Health Network in the transaction, with a corporate team led by Chicago partners Gary Axelrod and Jonathan Solomon with associates Megan Staub, Henna Jalal, and Sarah Loiselle. Advice was also provided on tax matters by Los Angeles partner Pardis Zomorodi; on finance and real estate matters by Chicago partner Rachel Bates and London partner Quentin Gwyer with associates Ana De Santiago Ayon, Cristian Kelly, Euna Park, Danni Davies, Daniel Robot, Whitley Johnson, and Ben Rodger; and on employee benefit matters by Los Angeles Partner David Taub with associate Megan Ampe.