Blackstone Funds Complete $12.8 Billion Acquisition of American Campus Communities

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.

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 Acquires PS Business Parks for $7.6 Billion

July 20, 2022

Real Estate

Affiliates of Blackstone Real Estate completed the acquisition of all outstanding shares of PS Business Parks, Inc. for $187.50 per share in an all-cash transaction valued at approximately $7.6 billion. The deal brings PSB's portfolio—93 properties serving ~4,800 tenants across ~27 million square feet (plus ~800 residential units)—into Blackstone's real estate platform (operated via Link Logistics), expanding its industrial/industrial-flex and suburban office footprint.

Public Storage Acquires Simply Self Storage from BREIT for $2.2 Billion

July 24, 2023

Real Estate

Public Storage agreed to acquire Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion. The deal includes 127 wholly-owned properties totaling ~9 million net rentable square feet across 18 states (predominantly Sunbelt markets) and is expected to close in the third quarter of 2023.

Blackstone Real Estate Acquires Village Hotels from KSL Capital Partners

June 26, 2024

Restaurants & Hospitality

Funds managed by Blackstone Real Estate have completed the acquisition of Village Hotels from affiliates of KSL Capital Partners. Village Hotels owns and operates 33 hotels across the United Kingdom (approximately 4,400 keys) with integrated fitness clubs, food & beverage outlets and co-working spaces; Blackstone said it plans to expand the number of hotels in the UK and enhance existing facilities.

BlackRock Acquires HPS Investment Partners

October 14, 2025

Financial Services

BlackRock completed the acquisition of HPS Investment Partners in a transaction reported at about $12 billion, expanding BlackRock’s private credit and alternative asset capabilities. The deal brings HPS’s sizable private markets platform (reported as roughly $157–165 billion of AUM in sources) into BlackRock’s platform and bolsters its private markets and private credit scale.