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

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

April 5, 2024

Real Estate

Tricon Residential Inc. said the Ontario Superior Court of Justice granted final approval for its previously announced statutory plan of arrangement to be taken private by Blackstone Real Estate Partners X and Blackstone Real Estate Income Trust, Inc. for US$11.25 per common share in cash. The transaction is expected to close in the second quarter of this year, subject to customary closing conditions including Investment Canada Act regulatory approval.

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).

Blackstone Core+ Funds Acquire American Campus Communities

August 9, 2022

Real Estate

Blackstone Core+ perpetual capital vehicles, primarily Blackstone Real Estate Income Trust, Inc. (BREIT) and Blackstone Property Partners L.P. (BPP), completed the previously announced all-cash acquisition of American Campus Communities, Inc. (ACC). The deal was valued at approximately $12.8 billion, including the assumption of debt (about $65.47 per share).

Blackstone Real Estate Income Trust Acquires Preferred Apartment Communities

March 21, 2022

Real Estate

Preferred Apartment Communities, Inc. (PAC) announced that proxy advisory firms Glass Lewis and ISS have recommended stockholders vote “FOR” the previously announced all-cash acquisition by Blackstone Real Estate Income Trust, Inc. (BREIT). Under the definitive merger agreement, BREIT will acquire PAC for $25.00 per share, and the deal is expected to close in the second quarter of 2022 subject to customary conditions and stockholder approval.

Blackstone Real Estate Income Trust to Acquire Home Partners of America

June 22, 2021

Real Estate

Blackstone Real Estate Income Trust, Inc. (BREIT) entered into a definitive agreement to acquire Home Partners of America (HPA) in a deal valuing HPA at $6.0 billion. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions and approvals, as BREIT looks to expand HPA’s resident-led lease purchase/choice model across the United States.

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.