AmREIT Announces Successful Completion of Merger with REITPlus
On November 24, 2009, AmREIT, a Maryland real estate investment trust, completed a merger into REITPlus, Inc., with a simultaneous change of its name to AmREIT, Inc. The combined company will continue to operate as a Maryland corporation that has elected to be taxed as a REIT. The merger, which was overwhelmingly approved by shareholders of both companies, simplifies the capital structure of AmREIT and positions the company to pursue Phase 3 of its Vision 2010 strategic plan, which is to grow the company and achieve liquidity for shareholders.
Commenting on the company's merger, H. Kerr Taylor, AmREIT's chief executive officer, commented: "I am very pleased to announce the success of the merger. Our primary focus for the past eighteen months has been the execution of our strategic plan, Vision 2010.” Taylor further stated: "I would like to personally thank the boards of both AmREIT and REITPlus, our management team and employees, and Bass, Berry & Sims for the hard work and determination that made this step possible.”
The team from Bass, Berry & Sims PLC consisted of corporate and tax lawyers in the Memphis and Nashville offices of the firm. The team was led by John Good and included Laura Brothers, Todd Ervin, Amanda Poe, Tom Wedeles, Wes Scott and Philip Lewis.
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