Office REIT Columbia Property Trust Going Private in Nearly $4 Billion Deal
Columbia Property Trust (NYSE: CXP) has agreed to a privatization transaction with funds managed by leading fixed-income investment manager PIMCO. The deal ends a months-long strategic review process, kicked off by an unsolicited takeover offer from another investor group. The all-cash deal, which values the office-focused real estate investment trust (REIT) at $3.9 billion, could close by year-end.