Makarora, Ares to Buy Landlord Plymouth in $2.1 Billion Deal (1)

Makarora Management LP and Ares Management Corp. funds struck a deal to buy Plymouth Industrial REIT Inc. for $2.1 billion.

The buyers agreed to purchase the industrial property owner for $22 a share in an all-cash deal, including debt, according to a statement Friday.

Plymouth, which owns more than 200 buildings, has been a deal target in recent months. In August, the company received an unsolicited proposal from Sixth Street Partners, which owned nearly 10% of the stock at the time, to buy the company for $24.10 a share. At the time, Plymouth said its board would evaluate the deal. ...