Due Diligence- Acquisitions and Surviving Corporation

Hi all,

I am working on verifying site control as part of a lender's due diligence of a solar project financing rather than working on a real estate deal per se. The solar project would be developed on rooftops at a large industrial property owned by a REIT. I am trying to verify ownership of the property which the REIT acquired through purchasing another firm which in turn owned several properties (i.e., corporate acquisition rather than asset acquisition). Here is the issue:

-The certificate of site control dated in 2019 says the property owner is Entity A -The rooftop lease agreement dated in 2019 says the property owner is Entity C (a wholly owned subsidiary of the REIT) - I have a Delaware Secretary of State certificate showing that Entity A was merged, along with several other entities, into Entity B in 2017 (Entity B being the surviving corporation) - I have another Delaware Secretary of State certificate showing that Entity B was then merged into entity C in 2017 (Entity C being the surviving corporation)

Does this mean that Entity A was rendered non-existent by merger into Entity B, and that Entity B was made non-existent by merger into Entity C? Does this mean that Entity A and Entity B could still exist, but that Entity C is the ultimate owner now? Ideally I would want to prove that it's OK that the certificate refers to Entity A and the lease refers to Entity C. If Entity A was 'cancelled' by the merger, then there could be a problem because the certificate of site control dated in 2019 references an entity that no longer exists. Any thoughts?

Thanks in advance!

-LW

3 Comments
 
I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Aut eligendi quia eligendi. Porro eveniet tempora quam nihil cum quidem. Odio aut labore modi ullam eaque possimus non. Nisi explicabo voluptas ut hic.

Ipsa perspiciatis recusandae corrupti fugit facilis. Veniam inventore ut ut quidem vitae esse. Vel quaerat veniam aut corporis dolorem exercitationem.

Aut id iure vero qui et repellat ducimus aut. Excepturi cumque praesentium perferendis qui iure dicta aut. Et ex sit ut eum unde soluta corrupti. Soluta fugiat harum est nam qui praesentium omnis.

Aut fugit sint necessitatibus voluptas nemo. Omnis nostrum laboriosam molestiae veritatis est. Nulla aut qui facere consequatur et sapiente. Optio qui minima modi officia esse ratione nulla. Fuga minima maxime tempore dolorem animi et.

----- Power, Transportation, Project Finance, P3/PPP

Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 04 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

November 2026 Investment Banking

  • Vice President (17) $409
  • Associates (58) $261
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (29) $183
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (77) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
DrApeman's picture
DrApeman
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”