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

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 Infrastructure to Acquire TXNM Energy for $11.5 Billion

May 19, 2025

Infrastructure

TXNM Energy agreed to be acquired by Blackstone Infrastructure for $61.25 per share in cash, implying an enterprise value of about $11.5 billion including net debt and preferred stock. The deal is expected to close in the second half of 2026 and remains subject to multiple regulatory approvals and TXNM Energy shareholder approval.

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.

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.

Blackstone Real Estate Partners X Acquires Apartment Income REIT Corp. (AIR Communities) for Approximately $10 Billion

June 28, 2024

Real Estate

Blackstone Real Estate Partners X (part of Blackstone) has completed its acquisition of all outstanding common shares of Apartment Income REIT Corp. (AIR Communities) for $39.12 per share in an all-cash transaction valued at roughly $10 billion, including assumed debt. The take-private purchase gives Blackstone control of AIR's portfolio of 77 multifamily communities (27,385 apartment homes) and aligns with Blackstone's continued expansion of its real estate platform.

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.