MW Group, Blackstone Real Estate and DivcoWest Take Alexander & Baldwin Private in $2.3 Billion Deal

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.

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).

Ali Group to Acquire Welbilt in All-Cash Deal

July 14, 2021

Manufacturing

Ali Holding S.r.l. (Ali Group) entered into a definitive agreement to acquire Welbilt, Inc. in an all-cash transaction valued at $24.00 per share (about $3.5 billion equity value and $4.8 billion enterprise value). The deal closed after required shareholder and regulatory processes, and Welbilt’s stock ceased trading in July 2022.

SPB Hospitality Acquires J. Alexander's Holdings for $220 Million

September 30, 2022

Restaurants & Hospitality

SPB Hospitality LLC completed its acquisition of J. Alexander's Holdings, Inc. in an all-cash transaction valued at approximately $220 million. Upon closing, each J. Alexander's share was converted into the right to receive $14.00 in cash per share.

Walker & Dunlop Acquires Alliant Capital and Affiliates

August 30, 2021

Real Estate

Walker & Dunlop, Inc. entered into a definitive agreement to acquire Alliant Capital, Ltd. and its affiliates (Alliant Strategic Investments and ADC Communities), bringing approximately $14 billion of affordable housing assets under management to Walker & Dunlop's platform for a total enterprise value of $696 million. The deal (expected to close in Q4 2021) expands Walker & Dunlop's affordable housing capabilities by adding tax credit syndication, development and preservation expertise and is expected to be immediately accretive to revenue and adjusted EBITDA.

Blackstone-led Consortium Acquires Emerson's Remaining Interest in Copeland

June 6, 2024

Manufacturing

Private equity funds managed by Blackstone, with investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and GIC, will acquire Emerson's remaining 40% interest in the Copeland joint venture (formerly Emerson Climate Technologies) for approximately $3.5 billion. The deal — in which Copeland will repurchase the seller's note — furthers Emerson's portfolio simplification and is expected to close in the second half of 2024, subject to regulatory approvals.