Blackstone Real Estate Partners Takes Tricon Residential Private at $11.25 Per Share

Blackstone Real Estate Partners X Takes AIR Communities Private in ~$10 Billion Deal

June 28, 2024

Real Estate

Blackstone Real Estate Partners X agreed to acquire all outstanding common shares of Apartment Income REIT Corp. (AIR Communities) for $39.12 per share in an all-cash transaction valued at about $10 billion, including the assumption of debt. Blackstone planned to invest over $400 million to maintain and improve AIR’s rental housing communities, and the deal was expected to close in Q3 2024. The follow-on update states Blackstone has completed the privatization.

Blackstone to Acquire QTS Realty Trust in ~$10 Billion All-Cash Transaction

June 7, 2021

Infrastructure

QTS Realty Trust and Blackstone announced they entered into a definitive agreement under which Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc., and other perpetual capital vehicles managed by Blackstone will acquire all outstanding shares of QTS for $78.00 per share in an all-cash transaction valued at approximately $10 billion, including assumed debt. The transaction is expected to close in the second half of 2021, subject to stockholder approval and customary closing conditions.

Affiliates of Blackstone Real Estate Acquire Bluerock Residential Growth REIT

October 6, 2022

Real Estate

Affiliates of Blackstone Real Estate (Blackstone) completed an all-cash acquisition of Bluerock Residential Growth REIT, Inc. for $24.25 per share, valuing the transaction at approximately $3.6 billion. The deal included a spin-off of Bluerock's single-family rental business into a newly listed REIT, Bluerock Homes Trust (BHM).

Brookfield Asset Management to Acquire Peakstone Realty Trust in a $1.2 Billion All-Cash Deal

February 2, 2026

Real Estate

Brookfield Asset Management (via a Brookfield private real estate fund) has entered into a definitive agreement to acquire all outstanding shares of Peakstone Realty Trust for $21.00 per share in cash, implying an enterprise value of approximately $1.2 billion. The transaction is expected to close by the end of Q2 2026, subject to customary conditions including shareholder approval.

Blackstone Funds Complete $12.8 Billion Acquisition of American Campus Communities

August 9, 2022

Real Estate

Blackstone’s Core+ perpetual capital vehicles — primarily Blackstone Real Estate Income Trust (BREIT) and Blackstone Property Partners (BPP) — have completed the acquisition of all outstanding common shares of American Campus Communities (ACC) for approximately $12.8 billion, including assumption of debt. The acquisition gives Blackstone significant exposure to the U.S. student housing sector and will allow ACC to invest in existing assets and develop new student housing in university markets.

Affiliates of Blackstone Real Estate Complete Acquisition of PS Business Parks, Inc.

July 20, 2022

Real Estate

Affiliates of Blackstone Real Estate completed the previously announced acquisition of all outstanding shares of PS Business Parks, Inc. in an all-cash transaction valued at approximately $7.6 billion (including transaction expenses). PS Business Parks will be acquired for $187.50 per share, and the deal was supported by stockholder approval and customary closing conditions.