Private-equity firm to buy Home Properties for $7.6 billion

An affiliate of global private equity firm Lone Star Funds has inked a deal to acquire Home Properties Inc. for roughly $7.6 billion, officials announced today. The all-cash transaction includes the assumption of existing debt, officials said.

Home Properties—a publicly traded multifamily real estate investment trust based in Rochester—will be a privately held company after the deal closes, which is expected to occur in the fourth quarter.


CGI Communications to move, add 200 workers

CGI Communications Inc. plans to buy the vacant Atrium Building and Gateway Centre downtown from Monroe County.

The company currently is located in the Granite Building next door, which will be converted into more than 40 luxury condominiums.

As part of the move, CGI plans to hire 200 new employees downtown over the next five years, bringing the total number to 550 employees.