Blackstone Acquires Simply Self Storage for $1.2B With the completion of this deal, BREIT is now the third largest non-listed self-storage operator in the country.
Update 1/6/21 – BREIT completed its acquisition of Simply Self Storage on Dec. 18. With the deal complete, the company believes it is now the third largest non-listed self-storage operator in the United States, according a press release.
Simpson Thacher & Bartlett LLP served as BREIT’s legal adviser, while BofA Securities Inc. and Deutsche Bank Securities Inc. served as its financial advisers. Fried, Frank, Harris, Shriver & Jacobson LLP, Newmark Group Inc. and RBC Capital Markets LLC advised BAM.
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In a statement Wednesday, Simon Property Group Inc. SPG,
+2.23% and Brookfield Asset Management Inc. BAM,
-0.32%, along with their strategic partner Authentic Brands Group, said they have started to search for a new CEO to replace Soltau, whose last day will be Thursday.
“The search will seek to identify a leader that is focused on modern retail, the consumer experience, and the goal of creating a sustainable and enduring JCPenney,” they said in a statement. Stanley Shashoua, Simon’s chief investment officer, will step in as interim CEO of J.C. Penney. The new owners also said they would establish a temporary office of the CEO, made up of key members of the retailer’s current leadership team.
By Reuters Staff
1 Min Read
FILE PHOTO: A JC Penney store is shown in Oceanside, California, U.S., July 31, 2019. REUTERS/Mike Blake
(Reuters) -Department store chain J.C. Penney Co Inc said on Wednesday new owners Simon Property Group and Brookfield Asset Management Inc have begun a search for a new chief executive officer to replace Jill Soltau.
Soltau, who joined the struggling retailer about two years ago, will leave the company on Dec. 31.
Simon’s chief investment officer, Stanley Shashoua, would be appointed Penney’s interim CEO. The retailer said its new owners would establish a temporary office of the CEO to include key members of Penney’s current leadership team.
J C Penney starts search for new CEO as Soltau to exit - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.