December 24, 2015 | The Real Deal
The global economy saw over $3.8 trillion in mergers and acquisitions in 2015, surpassing the activity seen in 2007. The New York property market, too, had a bumper M&A year, with some of the biggest commercial firms joining forces. But are all these big deals a sign of economic health, or another indication that the market is due for a slowdown?
Major real estate mergers recently include the $100 million deal between commercial brokerages Massey Knakal Realty Services and Cushman & Wakefield, followed by DTZ’s $2 billion acquisition of Cushman; Marriott International’s $12.2 billion purchase of Starwood Hotels & Resorts Worldwide; the Blackstone Group’s $8 billion acquisition of BioMed Realty Trust, and its $6 billion purchase of Strategic Hotels & Resorts.
Another major acquisition in the works, with SL Green Realty planning to buy New York REIT for an as-yet-undisclosed price.
The numbers in these deals are impressive, but...
Click here for full article