If a deal is consummated, it would likely be the largest leveraged buyout in history as Walgreens Boots has a market value of approximately $56 billion and has nearly $17 billion of debt.
Under the terms of the agreement, Realogy will receive $375 million in cash at closing, subject to certain adjustments, and a $25-million deferred payment.
"It was not the intent of Congress for this tax incentive to be used to enrich political supporters or personal friends of senior administration officials, as recent reports indicate."
As part of the transaction Prologis plans to sell $3.5 billion of assets including $2.8 billion of non-strategic logistics properties and $700 million of office properties.
ADISA's recent 2019 Annual Conference & Trade Show here is Las Vegas reported that 12 opportunity zone funds are currently covered by the alternative direct investment platform.
"We need real estate investors and brokers in this business bringing capital to deals because we cannot go to banks," say panelists at CCIM's recent Global Conference.
Returns have also moderated from an average of 8.8% in 2018, down 30 bps from 9.1% in 2017, according to Hodes Weill & Associates and Cornell University's annual Institutional Real Estate Allocations Monitor.
"The market in the US is fairly developed and many of those players are focusing on just sub-asset categories such as car dealerships, casinos or gas stations."