Hogan Lovells Advises Home Properties Acquisition by Lone Star Funds
22 June 2015
WASHINGTON, D.C., 22 June 2015 – Hogan Lovells has advised Home Properties, Inc. (NYSE: HME) on its proposed acquisition by an affiliate of Lone Star Funds, in a cash transaction valued at approximately US$7.6 billion, including assumption of existing debt. Upon completion of the transaction, Home Properties, Inc. will become a privately held company.
Concurrently with the execution of the merger agreement, Home Properties, Inc. has entered into an agreement to contribute a portfolio of up to six properties containing as many as 3,246 units to UDR, Inc., (NYSE: UDR) a US$13 billion, leading multifamily real estate investment trust, in exchange for a combination of cash and newly issued units of a newly formed subsidiary of UDR.
The Hogan Lovells Washington-based team advising Home Properties, Inc. on this matter was led by partners Warren Gorrell and David Bonser and included partners Prentiss Feagles and Bruce Gilchrist, counsel Matt Thomson and associates Stacey McEvoy and Katherine Tyson, with additional contributions from partners Margaret de Lisser, Lee Berner and Michelle Harrington and associates Robert Baldwin and Laura Szarmach.