A team of Jones Day Chicago lawyers led by Tim Melton and Edward Winslow advised Great Lakes REIT in the negotiation of a definitive merger agreement to be acquired by Aslan Realty Partners II, L.P., an affiliate of Transwestern Investment Company, L.L.C. (“Transwestern”) which was signed today. Under the terms of the merger, Transwestern will acquire all of the stock of Great Lakes in a transaction valued at approximately $550 million. The transaction is subject to a number of conditions including shareholder approval and lender consent.
Great Lakes REIT is a fully integrated, self-administered and self-managed real estate investment trust. The current portfolio consists of 44 properties totaling approximately 5.8 million square feet of space in suburban areas of Chicago, Milwaukee, Detroit, Columbus, Minneapolis, Denver and Cincinnati.
Transwestern is a Chicago-based principal-oriented real estate investment firm. Aslan Realty Partners II is currently the exclusive funding vehicle for all investments sponsored by Transwestern. Aslan Realty Partners II is a fully-discretionary fund totaling $680 million of equity commitments. Since the inception of Transwestern in 1996, Transwestern and its affiliates have made property investments representing a gross value in excess of $4 billion.