Twitter LinkedIn
    Wednesday, July 6
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals & Transactions»Blackstone’s REIT Buying Binge Continues as It Agrees to a $3.7 Billion Apartment REIT Deal
    Deals & Transactions

    Blackstone’s REIT Buying Binge Continues as It Agrees to a $3.7 Billion Apartment REIT Deal

    January 26, 2022Updated:January 26, 20221 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Blackstone’s REIT Buying Binge Continues as It Agrees to a $3.7 Billion Apartment REIT Deal

    Blackstone Group is at it again. The private-equity giant is buying another real estate investment trust (REIT). This time, it’s paying $3.7 billion to acquire Resource REIT, a non-traded REIT focused on owning apartment buildings.

    This deal is Blackstone’s second notable apartment REIT transaction in recent months. Last month, some of its real estate affiliates agreed to acquire Bluerock Residential Growth REIT. They’re paying $24.25 per share ($3.6 billion overall), implying a whopping 124% premium to its share price before Bluerock started exploring a sale. Again, the draw is a portfolio of high-quality apartments located across some of America’s fastest-growing cities in the Sun Belt region.

    Two factors are driving this acquisition spree. First, BREIT is hauling in an enormous amount of investor capital. It raised more than $22 billion last year, nearly 70% of all the money raised by non-traded REITs in 2021. That has given it a tremendous amount of firepower to make acquisitions. 

    Read more: The Motley Fool

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    deals PE Insider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Clearlake Capital and Motive Partners complete acquisition of BETA+ from LSEG

    July 5, 2022

    Biosynth Carbosynth acquires KKR’s Pepscan

    July 5, 2022

    Triton to tap €5.2bn Fund V for OCU buyout

    July 5, 2022

    Private lenders are offering cheaper debt than Wall Street banks

    July 5, 2022

    Comments are closed.

    Other Articles

    Sentinel Capital Partners forms strategic partnership with Blackstone and RidgeLake Partners

    July 23, 2021

    Warburg Pincus to invest $210m in medical devices firm Meril

    February 22, 2022

    Foresight invests GBP3.5m in IMMJ Systems

    January 12, 2021

    Britain’s Boohoo swoops for last Arcadia brands

    January 29, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?