CalEast Completes CenterPoint Properties Trust Acquisition
08 Marzo 2006 - 7:48PM
PR Newswire (US)
CHICAGO, March 8 /PRNewswire/ -- The California Public Employees'
Retirement System ("CalPERS") and LaSalle Investment Management
("LaSalle") announced today that through a subsidiary of their
joint venture, CalEast Global Logistics ("CalEast"), they have
closed on the previously announced acquisition of CenterPoint
Properties Trust (NYSE:CNT) ("CenterPoint") in an all-cash
transaction totaling approximately $3.4 billion. The merger was
approved by the holders of 71.8% of CenterPoint's common shares who
voted at the special meeting called to approve the merger. Under
the transaction, all common shares are being acquired for $50 per
share in cash. CenterPoint's common and Series B preferred shares
will be delisted from the New York Stock Exchange effective at the
close of business today. CalEast and its sister company, CalEast
Industrial Investors, are leading investors in logistics warehouse
and related real estate whose members include CalPERS and LaSalle.
CalEast Industrial Investors owns and operates over 15 million
square feet of industrial real estate, including warehouses, light
assembly, air cargo and distribution centers throughout the United
States, Canada and Mexico. LaSalle, the investment management
business of Jones Lang LaSalle (NYSE:JLL), serves as the managing
member of CalEast and CalEast Industrial Investors. Since 1999,
CenterPoint and CalEast Industrial Investors have partnered in a
joint venture known as CenterPoint Venture LLC, which acquires,
develops, manages and sells industrial property. About LaSalle
Investment Management LaSalle Investment Management, Inc., a member
of the Jones Lang LaSalle group (NYSE:JLL), is a leading global
real estate investment manager with approximately $30 billion of
assets under management. LaSalle Investment Management is active
across a range of real estate capital and operating markets on
behalf of institutional and private investors worldwide. For more
information, visit http://www.lasalle.com/ . DATASOURCE: LaSalle
Investment Management CONTACT: Kim Dobbins of Dobbins
Communications, +1-312-482-8670 Web site: http://www.lasalle.com/
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