MIAMI—Edens Investment Trust has sealed the $736 million acquisition deal with AmREIT. Edens, which develops, owns and operates community-building centers in primary markets across the US, first announced the acquisition last November.
“This acquisition furthers our strategy of owning and operating a high quality, diversified portfolio of leading urban retail centers with long term value creation potential,” says Terry Brown, chairman and CEO of Edens. “We look forward to embracing the AmREIT team, retailers and communities.”
The acquisition price is a nearly 40% premium over AmREIT's closing stock price on July 9, 2014. That was the last trading day before the disclosure of the unsolicited offer from Regency Centers.
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