San Francisco-based real estate firm BRE Properties Inc is discussing a USD4.5-billion buyout offer by Essex Property Trust Inc, a deal that could expand the latter's portfolio in California.
BRE Properties Inc.
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California real estate investment trust BRE Properties Inc was projected to be the latest acquisition target of companies in a USD22 billion spending spree in apartment REITS, said Bloomberg in its report.
BRE Properties Inc. declined a takeover deal priced USD4.6 billion as the valuation of the company was severely discounted.
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