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. maintained its second-quarter spot at the top of S&P Global Market Intelligence's equity real estate investment trust M&A league table in the third quarter, while adding substantially to its deal count and deal credit.
At Sept. 30, Bank of America had accumulated $52.93 billion in deal credit in 2018 for its work on seven deals, including advising the buyers in three deals announced in the third quarter: Pebblebrook Hotel Trust in its purchase of LaSalle Hotel Properties; Brookfield Asset Management Inc.'s acquisition of Forest City Realty Trust Inc.; and Phillips Edison & Co. Inc. in its purchase of Phillips Edison Grocery Center REIT II Inc.
Citigroup Global Markets Inc., which rose from third place to second in the third-quarter ranking, also worked on seven transactions. The firm's total deal credit at Sept. 30 totaled $44.76 billion. Goldman Sachs & Co. LLC rose from seventh place to third for its work on five deals.
Torys LLP moved into first place from a second-quarter fourth-place ranking among legal advisers for its work on three deals, aggregating $30.21 billion in deal credit. Goodwin Procter LLP maintained the No. 2 spot for its involvement in three deals aggregating $27.43 billion in deal credit.
Simpson Thacher & Bartlett LLP, which was first in the legal adviser ranking at the end of the second quarter, fell to fifth place after LaSalle Hotel Properties terminated an earlier agreement to be acquired by affiliates of Blackstone Group LP.