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$370M Deal: Lone Star Affiliate Grabs Saizen REIT’s Japan Portfolio


An affiliate of US private equity firm Lone Star Funds has finalized a $370M purchase of Saizen REIT, a Japanese REIT portfolio. At $0.84 per unit, the deal was a net offer price almost 27% above Saizen’s last closing price of $0.66, Reuters reported.

This deal comes as many property trusts are trading below their net asset value, especially in Singapore. (Saizen REIT consistently traded at a discount to NAV over the last two years.) Credit Suisse and NorthEast Capital Management GK were financial advisers for the deal. [Reuters]