AcquisitionDec 8, 2025Completed
🇺🇸 United States
ABAlexander & Baldwin, Inc.TPTropic Purchaser LLC (joint venture of MW Group Ltd., Blackstone Real Estate, and DivcoWest)
Real Estate › REITs
Equity value$1.54BEquity value
AnnouncedDec 8, 2025
ConsiderationCash
StructureOne-step merger
RegionNorth America
Cross-borderNo
Contingent paymentNo
Overview
Tropic Purchaser LLC, a joint venture of MW Group, Blackstone Real Estate funds and DivcoWest, agreed to acquire Alexander & Baldwin, a Hawaii-focused commercial real estate REIT, in an all-cash merger at $21.20 per share (net $20.85 after the January dividend).
Deal rationale
The board unanimously determined the merger advisable and in the best interests of the Company, providing shareholders cash of $21.20 per share.
AI-generated from the SEC filingCompletedReal Estate › REITsUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | $1.54B | Headline figure |
|---|---|---|
| Enterprise value | Undisclosed | |
| Consideration | Cash |
Advisors
Buy-side
None listed
Sell-side
BOBank of America
Parties
Acquirer
TPTropic Purchaser LLC (joint venture of MW Group Ltd., Blackstone Real Estate, and DivcoWest)
- Headquarters
- United States
- Ticker
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