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Atlas Capital-led consortium acquires EVOQ Properties

19 Aug 2014

los angelesAn investor consortium backed by private equity firm Atlas Capital has agreed to buy Los Angeles-based real estate group EVOQ Properties.

The deal valued the company at $12.96 per share, or $357.4m.

The consortium also includes real estate investment firms Square Mile Capital Management and USAA Real Estate Company.

EVOQ’s board and its majority shareholder MMPI Acquisition have approved the deal.

The company has holdings in industrial, office, retail, residential, and mixed-use real estate.

EVOQ CEO Martin Caverly said, “The acquiring investors recognized the tremendous value of EVOQ’s portfolio and the opportunity to make a significant investment in Downtown Los Angeles.”

Recent real estate deals include KKR’s acquisition of a 70 per cent stake in three of Melbourne’s World Trade Centre towers for $120.4m in partnership with Abacus Property Group.

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