Apollo, Broadway Bid for Charter Hall’s US Properties

Apollo Global Management and Broadway Partners have offered more than $1.68 billion for Charter Hall’s U.S. real estate holdings, Reuters reported, citing a story from Bloomberg. AREA Property Partners, Boston Properties Inc. and Highwoods Properties Inc. also reportedly made separate offers for some or all of Charter Hall’s 14 U.S. properties.

(Reuters) – Charter Hall Office REIT has received an offer of more than $1.68 billion from Apollo Global Management LLC and Broadway Partners for its U.S. real estate holdings, Bloomberg reported, citing three people with knowledge of the bid.

AREA Property Partners, Boston Properties Inc. and Highwoods Properties Inc. also made separate offers for some or all of Charter Hall’s 14 U.S. properties, the news agency said.

“I cannot comment on speculation in the market. I cannot talk about whether or not we have received bids,” Charter Hall chief executive Adrian Taylor told Reuters.

Some of the initial bids are at a premium to the Sydney-based company’s assets, which it valued at $1.68 billion last year, the news agency added.

In January, Charter Hall Office REIT sold its interest in Japanese office buildings for 3.47 billion Japanese yen (A$42 million), in line with the REIT’s strategy to exit non-core markets.

Boston Properties, Highwoods Properties and Apollo Global Management were not available for comment, outside of normal U.S. business hours. (Reporting by Rachel Chitra in Bangalore; Editing by Muralikumar Anantharaman)