Affiliates of Blackstone Real Estate Acquire Bluerock Residential Growth REIT

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 PS Business Parks for $7.6 Billion

July 20, 2022

Real Estate

Affiliates of Blackstone Real Estate entered into a definitive all-cash agreement to acquire PS Business Parks, Inc. for $187.50 per share, valuing the transaction at approximately $7.6 billion. The deal covers PS Business Parks’ commercial portfolio (industrial, business park, office, and multifamily) primarily located in California, Miami, Texas, and Northern Virginia, with an expected closing in the third quarter of 2022.

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.

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

February 2, 2026

Real Estate

Brookfield Asset Management (via a Brookfield private real estate fund) entered into a definitive agreement to acquire Peakstone Realty Trust for $21.00 per share in cash, valuing the deal at approximately $1.2 billion. The acquisition will expand Brookfield’s industrial real estate platform by adding Peakstone’s industrial outdoor storage (IOS) and traditional industrial property portfolio.

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.

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).