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Overlooking corporate real estate can put merger and divestiture deal value at risk

Author

Listed:
  • Gottschalk, Douglas

    (Principal, Ernst & Young LLP, USA)

  • Golichowski, Michael

    (Senior Manager, Ernst & Young LLP, USA)

  • Heddergott, Eva

    (Manager, Ernst & Young LLP, USA)

Abstract

This paper is authored by lifelong corporate real estate (CRE) advisers who have spent years involved in major corporate transactions including mergers and acquisitions (M&A) and divestitures. The paper explores the basics of M&A and divestitures and why real estate is a crucial variable but often overlooked. The paper explores why many investment bankers, corporate development departments and transaction advisers ignore real estate and what it takes to get it on their agenda. It also shares the process and tools for real estate verticals within a deal. Real estate can drive significant value during M&A and divestitures but neglecting it during the deal process can put that value at risk.

Suggested Citation

  • Gottschalk, Douglas & Golichowski, Michael & Heddergott, Eva, 2020. "Overlooking corporate real estate can put merger and divestiture deal value at risk," Corporate Real Estate Journal, Henry Stewart Publications, vol. 9(4), pages 299-316, June.
    • Handle: RePEc:aza:crej00:y:2020:v:9:i:4:p:299-316
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    More about this item

    Keywords

    M&A; mergers; divestitures; portfolio strategy; transactions; optimisation;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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