Griffin Capital Essential Asset REIT II Inc. said its shareholders approved its proposed merger with Griffin Capital Essential Asset REIT Inc.
The parties said earlier that the deal would form a self-managed real estate investment trust valued at $4.75 billion.
At Griffin Capital Essential Asset REIT II's annual stockholder meeting held March 13, 29,179,078 shares were voted in favor of the transaction, compared with 717,207 shares voted against it.
Separately, Griffin Capital Essential Asset REIT said it received shareholder approval to adjourn its annual meeting to allow for additional time for stockholders to vote on the proposed merger in order to secure additional votes. The company said the meeting will reconvene March 29 to hold the shareholder vote on the transaction.