Topics

• What is driving platform M&A: succession, scale, and capital partners buying operators

• Valuing the company apart from the buildings: fee streams, promote pipelines, management and leasing contracts

• Deal structures: asset vs. equity sales, rollover equity, earnouts, and retaining the team

• Pre-sale cleanup: entity structure, consents, guarantees, and fund or investor approvals

• Tax design of the sale: purchase price allocation and rollover mechanics

• What sellers should fix two years before going to market