Why Should We Care
Glenborough Realty Trust agreed to be acquired by Morgan Stanley for about $2 billion today. The Glenborough transaction is just another in a string of real estate investment trust acquisitions. There are a couple of interesting points about Glenborough. First, it is the resting place for many of the August limited partnerships, which were widely sold in the 1980s. One of the principals of August was Luke McCarthy, who with his firm Evergreen, is a major player in the Tenant In Common syndication business.