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PHILADELPHIA & NEW YORK, Could 19, 2022–(Enterprise WIRE)–Blackstone (NYSE: BX) nowadays introduced that Blackstone Genuine Estate Profits Belief, Inc. (“BREIT”) has done its beforehand announced acquisition of all of the outstanding shares of common inventory of Useful resource REIT, Inc. (the “REIT”) for $14.75 for every share in an all-money transaction valued at $3.7 billion, including the assumption of the REIT’s debt.
Lazard Frères & Co. LLC acted as exclusive money advisor to the REIT and DLA Piper LLP (US) acted as legal counsel. BofA Securities, BMO Capital Marketplaces Corp., Eastdil Secured Advisors LLC and RBC Capital Markets LLC acted as economical advisors to BREIT and Simpson Thacher & Bartlett LLP acted as legal counsel.
The transaction was announced on January 24, 2022.
About Resource REIT, Inc.
Useful resource REIT, Inc. (the “REIT” or the “Corporation”) is a self-managed actual estate financial commitment trust that owns a diverse portfolio of suburban apartment communities in qualified marketplaces throughout the United States. The REIT owns 42 multifamily homes across 13 states as of March 31, 2022.
About Blackstone True Estate Money Belief, Inc.
Blackstone Actual Estate Profits Trust, Inc. (“BREIT”) is a perpetual-lifestyle, institutional good quality authentic estate financial investment system that delivers personal true estate to money concentrated buyers. BREIT invests principally in stabilized, money-building U.S. business authentic estate throughout crucial house styles and to a lesser extent in genuine estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a world-wide chief in authentic estate investing. Blackstone’s real estate organization was launched in 1991 and has roughly $298 billion in investor capital underneath administration. Further more details is accessible at www.breit.com.
Perspective source version on businesswire.com: https://www.businesswire.com/news/household/20220519005684/en/
Contacts
Source REIT Call
Source Investor Relations
(866) 469-0129
[email protected]
Blackstone Media Make contact with
Jeffrey Kauth
(212) 583-5395
[email protected]
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