It has been confirmed by CPN that Tishman Speyer and Lehman Bros. have offered a $22B buyout of REIT Archstone-Smith Trust. Archstone shareholders gave a 78% approval to the offer for the joint venture to acquire common shares at $60.75 per share. The deal is expected to close by October 5th but there are several conditions that need to be met before the final approval.
We have several Archstone communities in-city Seattle and on the Eastside, including the most recent Archstone Belltown (500 Wall Street). Click here to view their local properties.