Cerberus Sells Tenet Equity to CBRE for $1.6 Billion
Private equity firm Cerberus has sold Tenet Equity to CBRE Group for $1.6 billion. The deal transfers a vast property portfolio to CBRE Investment Management amid rising demand for steady income assets.
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Cerberus Capital Management sold Tenet Equity to CBRE Group Inc - A for $1.6B on Tuesday afternoon. The transaction transfers a portfolio of more than 200 properties spanning 39 states across the United States. Real estate investors increasingly favor long-term leased properties for steady income as borrowing costs remain elevated.
