US middle market firms Baird Capital Partners and Lubar & Co. have agreed to sell 100 percent of their interest in medical facility design firm Marshall Erdman to healthcare-focussed real estate investment trust Cogdell Spencer for $247 million (€168 million).
The acquisition, which is expected to close in February, will be financed by a $100 million term loan and a $150 million secured line of credit provided by KeyBank National Association, Bank of America, Branch Banking and Trust Company, M&I Marshall & Ilsley Bank and Wachovia Bank, as well as $85 million in rollover equity held by Baird and...
