REBusinessOnline

CIT Group Completes $3.4B Acquisition of OneWest Bank

NEW YORK — CIT Group Inc. (NYSE: CIT) has completed its acquisition of IMB Holdco for $3.4 billion in cash and stock. IMB Holdco is the parent company of OneWest Bank. The combined company has more than $65 billion in assets and more than $30 billion of deposits.The merged company will now operate as CIT Bank. The company operates an Internet banking franchise, as well as a network of 70 retail branches throughout Southern California as OneWest Bank, a division of CIT Bank.New …

SL Green Sells Two Assets for $642M, Funds 11 Madison Ave. Purchase

NEW YORK — SL Green Realty Corp. (NYSE: SLG) has divested two New York-based properties for a total of $642.8 million, which will be used to partially fund the pending acquisition of the 11 Madison Ave. office building.The company sold Tower 45, a 440,000-square-foot office building at 120 W. 45th St., for $365 million.SL Green also agreed to sell 80 percent of its ownership interest in a 73,000-square-foot, mixed-use asset located at 131-137 Spring St. in SoHo to Invesco Real Estate. …

Chambers Street to Buy Gramercy Property in $5.7B Stock Deal

PRINCETON, N.J. and NEW YORK CITY — Chambers Street Properties (NYSE: CSG) has agreed to buy Gramercy Property Trust Inc. (NYSE: GPT) in an all-stock deal valued at about $5.7 billion. The merger will create the largest industrial and office net lease REIT, according to the firms.The Board of Trustees of Chambers Street and the Board of Directors of Gramercy have unanimously approved the merger agreement and the transaction. Per the agreement, Gramercy shareholders will receive 3.18 …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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