News & Events

Simpson Thacher is representing Citigroup and JP Morgan as financial advisors to InvenTrust Properties Corp. (“InvenTrust”) in connection with its announced definitive purchase agreement with UHC Acquisition Sub LLC, a subsidiary of a joint venture formed between Canada Pension Plan Investment Board, GIC and Scion Communities Investors LLC, under which the joint venture’s subsidiary will acquire InvenTrust’s student housing platform, University House Communities Group Inc. The purchase agreement’s gross all-cash value is $1.4 billion. Under the purchase agreement, the final net proceeds will be determined at the closing of the transaction following the determination of several events and closing considerations. The transaction is expected to close in mid-2016 subject to certain closing conditions.

As of September 30, 2015, InvenTrust owned 128 multi-tenant retail properties (including 18 JV assets), comprising 19 million square feet of retail space in 24 states.

The Simpson Thacher team included Rob Spatt, Jivaji More and Evan Zinaman (M&A).