Merger mania swept the beleaguered real-estate sector on Monday with the announcement of two multi-billion dollar deals.
San Diego’s Realty Income (O) agreed to buy Dallas-based Spirit Realty Capital (SRC) in an all-stock deal valued at $9.3 billion. The companies are structured as real-estate investment trusts, or REITS, with thousands of commercial properties.
In the healthcare real-estate sector, Healthpeak Properties (PEAK) and Physicians Realty Trust (DOC) struck a deal to combine in an all-stock merger of equals valued at $21 billion.