RE M&A Prep

Hi all,

I have a research background in a real estate equity fund and am having this opportunity to interview for an M&A role within a REIT. The target companies are primarily public, and I have absolutely no prior experience in that field. I wonder as far as acquiring a public real estate company is concerned, or even another REIT, what are the basic criteria to screen potential targets and what makes a good deal? I always heard about searching for companies with discount to NAV for potential upside, but what are the other important metrics? Also, how negatively would unit holders of a REIT to view an M&A action, as a REIT is supposed to pay most of their income out to unit holders? Any feedback would be highly appreciated. Thanks!

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