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G&L Closes Revised Merger Deal

BEVERLY HILLS, CA-The thinly traded health-care REIT is taken private by its two top executives after their offer was raised to $13 a share last week. Deal is valued at about $30 million.

By David W. Myers | Updated on October 30, 2001

BEVERLY HILLS, CA-G&L Realty Corp., the lightly traded health-care REIT based here, says it has completed its recently revised plan to go private through a $13-a-share buyout launched by its brass.

.The announcement would seem to mark the close of a year-long effort by the company’s two top executives, Daniel M. Gottlieb and Steven D. Lebowitz, to buy all the shares they don’t already own and to remove the company’s stock from trading on the New York Stock Exchange.

Gottlieb, the trust’s CEO, is the “G” in G&L Realty. Lebowitz, the REIT’s president, is the “L.”

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