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Announced

Completed

Blackstone completed the acquisition of Bluerock Residential Growth REIT for $3.6bn.

Financials

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Transaction Value£2,719m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium124%
One Off Charge-

Tags

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Majority

Friendly

Single Bidder

Real Estate Holding and Development

Domestic

real estate investment

Residential REITs

Acquisition

Private Equity

United States

Public

Privatisation

Completed

Synopsis

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Blackstone completed the acquisition of Bluerock Residential Growth REIT, a residential REIT, for $3.6bn. “We are very proud to enter into a transaction that delivers tremendous value to our shareholders. We believe the substantial premium to our historic trading price is a testament to our success in building a best-in-class institutional-quality multifamily apartment portfolio in our attractive knowledge-economy target markets, along with the robust process run by the board of directors and management to secure maximum value for our shareholders,” Ramin Kamfar, Bluerock Chairman and CEO.

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