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Bank of America tops 2018 REIT M&A league table, after leading much of year

Editor's note: S&P Global Market Intelligence has reclassified industries according to the Global Industry Classification Standard. The league table data dispatch articles are now based on the new industry classification and are not comparable with 2017 and prior league table data dispatch articles.

Bank of America Corp. finished 2018 at the top of S&P Global Market Intelligence's equity real estate investment trust M&A league table after maintaining the lead among financial advisers for much of the year.

Bank of America tallied $64.08 billion in deal credit for its work on eight deals over the year. It advised buyers in five deals, including most recently Pebblebrook Hotel Trust's purchase of LaSalle Hotel Properties; Brookfield Asset Management Inc.'s acquisition of Forest City Realty Trust Inc.; and Phillips Edison & Co. Inc.'s purchase of Phillips Edison Grocery Center REIT II Inc. In the fourth quarter, Bank of America advised Griffin Capital Essential Asset REIT Inc. in its merger with Griffin Capital Essential Asset REIT II Inc.

Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC also maintained their rankings from the third quarter — second and third place, respectively. Citigroup advised on seven deals, representing $58.21 billion in deal credit, and Goldman advised on five, representing $47.36 billion in deal credit.

Torys LLP remained in the top spot among legal advisers from the third-quarter ranking for its work on four deals, representing $42.24 billion in deal credit. Goodwin Procter LLP maintained second place in the legal adviser ranking for its work on three deals aggregating $40.42 billion in deal credit.

Simpson Thacher & Bartlett LLP took third place for its involvement in three deals aggregating $37.45 billion.

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