-

Affiliates of Blackstone Real Estate Complete $3.6 Billion Acquisition of Bluerock Residential Growth REIT

NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced that affiliates of Blackstone Real Estate (“Blackstone”) have completed the previously announced acquisition of Bluerock Residential Growth REIT, Inc. (“Bluerock”) for $24.25 per share in an all-cash transaction valued at $3.6 billion.

Bluerock has also completed the previously announced spin-off of its single-family rental business into an externally managed, real estate investment trust, Bluerock Homes Trust, Inc. (NYSE American: BHM) (“BHM”). BHM began trading on the New York Stock Exchange American this morning.

Barclays and Wells Fargo Securities LLC served as Blackstone’s financial advisors, and Simpson Thacher & Bartlett LLP as Blackstone’s legal advisor. Morgan Stanley & Co. LLC and Eastdil Secured LLC served as Bluerock’s lead financial advisors with BofA Securities also serving as an advisor. Wachtell, Lipton, Rosen & Katz, KVCF, PLC, and Vinson & Elkins, LLP served as Bluerock’s legal counsel.

The transaction was announced on December 20, 2021.

About Blackstone Real Estate

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S. non-listed REIT, and Blackstone’s European yield-oriented strategy. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Contacts

Jillian Kary
212-583-5379
Jillian.Kary@Blackstone.com

Industry:

Blackstone

NYSE:BX
Release Versions
English

Contacts

Jillian Kary
212-583-5379
Jillian.Kary@Blackstone.com

More News From Blackstone

Blackstone Announces $8.7 Billion Final Close for Blackstone Energy Transition Partners V

NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced the final close of Blackstone Energy Transition Partners V (“BETP V”) at $8.7 billion – more than 50% larger than its predecessor vehicle. The significantly oversubscribed fund reached its hard cap and builds on the strong performance of the strategy’s prior vintages. Blackstone Energy Transition Partners (“BETP”) seeks to build energy companies at scale that deliver cleaner, more reliable and more affordable energy to meet growin...

Blackstone Credit & Insurance Leads $1 Billion Financing to Support Combination of Analogic Corporation and Leidos' Security Enterprise Solutions Businesses

NEW YORK--(BUSINESS WIRE)--Blackstone Credit & Insurance ("BXCI") today announced that it is leading a $1 billion financing in support of the combination of Analogic Corporation ("Analogic") with the Security Enterprise Solutions, Ports & Borders and Industrial Automation businesses of Leidos Holdings, Inc. (NYSE: LDOS) (“Leidos”). The combination creates a stronger global security imaging and detection company with broader capabilities, deeper customer relationships and greater scale t...

Blackstone Announces Significant Investment to Launch Falcata, Leader in Next-Generation Interceptor Technologies

NEW YORK--(BUSINESS WIRE)--Blackstone today announced a significant investment to launch Falcata, a defense technology company formed through the acquisition and combination of TSC and Applied Systems Engineering, Inc. (ASEI) under a unified platform. Falcata brings together complementary technologies across the interceptor guidance chain to strengthen America’s industrial capacity and help meet the growing demand for cost-effective national security missions. The formation of Falcata comes as...
Back to Newsroom