Plymouth Industrial REIT, Inc. (NYSE: PLYM) has announced that it has entered into a definitive merger agreement under which entities affiliated with Makarora Management LP, along with Ares Alternative Credit funds, will acquire all outstanding shares of Plymouth’s common stock and all outstanding limited partnership interests of Plymouth Industrial OP, LP. The all-cash transaction is valued at approximately US$2.1 billion, including the assumption of certain outstanding debt.
Latham & Watkins LLP represented Ares in the transaction with a corporate team led by Los Angeles/New York partner Julian Kleindorfer, Chicago partner Owen Alexander, and Los Angeles partner David Zaheer, with associates Mack Weber, Cory Lewis, Cristina Lombardi, Shoumick Hasan, and Sean Kim. Advice was also provided on tax matters by Los Angeles partner Pardis Zomorodi and counsel Eric Song, with associate Dennis Poehland; on finance matters by New York partner Betsy Jaffe; on antitrust matters by New York partner Katherine Rocco, Washington, D.C. partner Peter Todaro, and New York counsel Jamie Sadler; and on executive compensation, employment, and benefits matters by Boston partner Josh Friedman.
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