ApartmentGuide.com, Rent.com and Rental.com acquired for $608 million in cash under a Chapter 11 reorganization
NEW YORK, April 7, 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 the closing on April 2, 2021 of its acquisition for $608 million in cash of RentPath, the Atlanta-based owner of ApartmentGuide.com, Rent.com and Rental.com, pursuant to a chapter 11 plan of reorganization. The acquisition followed the confirmation on April 1, 2021 by the U.S. Bankruptcy Court for the District of Delaware of RentPath's amended plan of reorganization. The acquisition brought together a leading site for buying a home with a leading site for renting a home.
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).