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Report: Columbia Property receives takeover approaches, considers sale

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Report: Columbia Property receives takeover approaches, considers sale

Atlanta-based office real estate investment trust Columbia Property Trust Inc. is contemplating selling the company, The Wall Street Journal reported, citing people with knowledge of the matter.

The unnamed sources told the publication that Columbia Property received an offer earlier in 2018 and subsequently invited other parties that had recently shown interest to take part in a sales process.

The REIT hired Morgan Stanley as its adviser after attracting takeover interest, Bloomberg News reported, citing people familiar with the matter.

According to the report, the offers made to Columbia Property earlier this summer were not attractive and there is a low probability that the company will agree to a deal.