Hogan Lovells Advises Kite Realty Group on US$2.1 Billion Merger Transaction with Inland Diversified Real Estate Trust
12 February 2014
WASHINGTON, D.C. – 12 February 2014 – A Hogan Lovells Corporate team advised Kite Realty Group Trust (KRG) on its proposed merger with Inland Diversified Real Estate Trust, Inc. (Inland Diversified). Under the terms of the merger agreement, Inland Diversified will merge into a wholly owned subsidiary of KRG in a stock-for-stock transaction valued at approximately US$2.1 billion.
This deal allows KRG to expand its holdings and enter new markets including Las Vegas, Salt Lake City, Virginia Beach, Bayonne, New Jersey, and Westchester County, New York. Currently, KRG owns interests in 74 retail and commercial shopping centers, and the acquisition will increase its portfolio to 131 properties across 26 states. The transaction is expected to close late in the second quarter or in the third quarter of 2014.
The Hogan Lovells team was led by Washington, D.C. Corporate partners David Bonser and Paul Manca. Partners Warren Gorrell (Global Co-CEO), Prentiss Feagles, Lee Berner and Cam Cosby, counsel Matt Thomson, and associates Nicole Brown, Brandon Egren, and Jan Shanklin also assisted on the transaction.