The Firm is representing Everview Partners, L.P. ("Everview") in connection with the acquisition of Slate Grocery REIT ("Slate Grocery REIT") by a joint venture between affiliates of Everview and Brixmor Property Group Inc. ("Brixmor"). The joint venture will acquire all of the outstanding trust units of Slate Grocery REIT for US$13.00 per unit in cash, which gives the transaction a total enterprise value of approximately US$2.3 billion. The transaction is expected to close in the first quarter of 2027, subject to unitholder approval and other customary closing conditions.
Slate Grocery REIT owns and operates U.S. grocery-anchored real estate. Under the terms of the transaction, Everview will hold an 80% common equity interest in a joint venture that will own 92 shopping centers totaling approximately 12 million square feet. Brixmor will hold the remaining 20% common equity interest and will act as asset manager, property manager and leasing representative for the joint venture portfolio. In addition, Brixmor will acquire a 100% interest in 22 grocery-anchored shopping centers and a 50% interest in one center, totaling approximately three million square feet, located mainly in Florida, Georgia and the Carolinas.
The Simpson Thacher team includes Sas Mehrara, Whitney Salinas, Justin Vilinsky, Carla Fazari, Ryan Kesselring, Spencer Goodson, Ben Bogard, Noah Zgrablich, Anna Kathryn Kilby, Benjamin Wackerman and Alfred Polizzotto (Real Estate); Matt Rogers, Anthony Vernace, Samyel Lee, Dashia Kwok and Benjamin Bouwer (M&A); Nancy Mehlman, Andrew Purcell, Edward Grais, Benjamin Bressler and Lauren Yun (Tax); Jonathan Karen, Linda Tieh, Ian Zatkin Osburn and Arthur Kopilevich (Private Funds); Étienne Renaudeau and Antti Kunnari (Antitrust).