CLEARWATER, FLA. — Affiliates of Green Courte Partners of Chicago will acquire the Clearwater-based REIT American Land Lease for $438 million, purchasing American Land’s outstanding stock for $14.20 per share. Shares not purchased will be converted into cash. The agreement is expected to close during the first quarter of 2009. Wachovia Capital Markets provided American Land Lease with financial advice and Skadden, Arps, Slate, Meagher & Flom served as legal counsel. DLA Piper provided Green Courte Partners with legal assistance.
FIRM ACQUIRES FLORIDA REALTY TRUST FOR $438 MILLION