ApartmentGuide.com, Rent.com and Rental.com, to be acquired for $608 million in cash under a Chapter 11 reorganization
NEW YORK, February 26, 2021 – Proskauer, a leading international law firm, today announced that it advised Redfin, the technology-powered residential real estate company (NASDAQ: RDFN), in connection with its definitive agreement to acquire RentPath, the Atlanta-based owner of ApartmentGuide.com, Rent.com and Rental.com, for $608 million in cash, pursuant to the chapter 11 plan of reorganization of RentPath and certain of its affiliates. The acquisition will bring together a leading site for buying a home with a leading site for renting a home, and is expected to close in the next few months, subject to customary closing conditions, including regulatory and bankruptcy court approvals.
Our team included partners James Gerkis (M&A) and Timothy Karcher (Bankruptcy), associates Sara Park (M&A), Jason Nam (M&A) and Megan Volin (Bankruptcy), partner David Picon (Litigation), partner Andrea Rattner (Employee Benefits) and associate Oleg Zakatov (Employee Benefits), partner Martin Hamilton (Tax) and associate Bowon Koh (Tax), partner Wai Choy (IP), and partner Marc Eric Rosenthal (Insurance).