BREIT completed the acquisition of American Campus Communities for $12.8bn.

Blackstone Real Estate Income Trust, a perpetual-life, institutional quality real estate investment platform, completed the acquisition of American Campus Communities, a real estate investment trust, for $12.8bn. “We are proud and excited to have our best-in-class company join Blackstone, whose expertise, resources and consistent access to capital will allow us to grow and continue to lead the student housing industry. This transaction created significant value for our shareholders and represents the culmination of our team’s passionate and dedicated service to our student residents and university partners," Bill Bayless, American Campus Communities Co-Founder & CEO.