ASSIGNMENT

 

Hodes Weill & Associates acted as global financial advisor and placement agent to Clarion Partners in the acquisition and recapitalization of Gables Residential (“Gables”), a market-leading, vertically-integrated real estate company specializing in the development, construction, acquisition and management of multifamily and mixed-use communities.  Clarion Partners, a leading, global real estate investment manager, led a consortium of institutional investors in the transaction.

 

OUTCOME/RESULTS

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Hodes Weill advised Clarion Partners in connection with the $3.2 billion acquisition and recapitalization of Gables.  As a result of the transaction, Gables was converted into an open end fund, with an initial portfolio of 54 luxury communities and an in-process development pipeline in high growth markets throughout the United States including Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C.   

In connection with the formation of the bid to acquire and recapitalize the Company, Hodes Weill advised in the structuring of the new open end fund and in the placement of equity interests to a group of 12 global institutional investors, which included corporate and public pension funds, sovereign wealth funds, insurance companies, a fund of funds and a large family office.  The Company was auctioned in a full marketing process.  In connection with the auction process,  Hodes Weill provided strategic advice with regards to valuation and bid strategy.