September 07, 2021
Columbia Property Trust, Inc. announced that it has entered into a definitive agreement to be acquired by funds managed by Pacific Investment Management Company LLC (collectively, PIMCO), one of the world’s premier global investment management firms, for US$3.9 billion including Columbia’s proportionate share of consolidated and unconsolidated debt. Under the terms of the agreement, which has been unanimously approved by Columbia’s Board of Directors, PIMCO will acquire all of the outstanding shares of Columbia common stock for US$19.30 per share in cash.
Latham & Watkins LLP represents PIMCO in the acquisition with a corporate team led by New York/Orange County partner Charles Ruck and Orange County partners Daniel Rees and William Cernius with associates Paul Jeffrey and Mary Carlyle Reid. Advice was also provided on tax matters by Los Angeles partner Pardis Zomorodi wit associate Will Kessler; on finance issues by Century City partner Nancy Bruington with associate Nathan Whitaker; on compensation and benefits matters by Chicago partner Robin Struve; on real estate matters by San Diego partner Robert Frances and Chicago counsel Jeffrey Anderson with associate Aaron Friberg, Mike Polvi, and Will Swanson; on regulatory compliance matters by Chicago partners Nabil Sabki and Laura Ferrell with associate Daniel Filstrup; and on environmental matters by Orange County partner Chris Norton.