JP Morgan's Summit Coup

Abrams, Sandra Lea
October 2004
Investment Dealers' Digest;10/11/2004, Vol. 70 Issue 39, p15
Trade Publication
The article presents information on the business development of J.P. Morgan & Co. Inc. Last week's $1,9 billion blockbuster real estate deal between Camden Property Trust and Summit Properties Inc. is the first M & A transaction in the multifamily REIT business since 2000, but it's unlikely to be the last in this fragmented industry. As consolidation heats up, bankers will be jockeying for deals. Right now, laggard dealmaker J.P. Morgan, which advised Summit in the latest merger, is starting to make headway. The company has laid out a plan to sell assets in noncore markets and to form joint ventures with institutional partners to fund the cash portion of the Summit bid said Brendan Thorpe, a director at Fitch Ratings in New York.


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