Blackstone Real Estate Income Trust Completes $3.7 Billion Acquisition of Resource REIT
May 19 2022 - 10:02AM
Business Wire
Blackstone (NYSE: BX) today announced that Blackstone Real
Estate Income Trust, Inc. (“BREIT”) has completed its previously
announced acquisition of all of the outstanding shares of common
stock of Resource REIT, Inc. (the “REIT”) for $14.75 per share in
an all-cash transaction valued at $3.7 billion, including the
assumption of the REIT’s debt.
Lazard Frères & Co. LLC acted as exclusive financial advisor
to the REIT and DLA Piper LLP (US) acted as legal counsel. BofA
Securities, BMO Capital Markets Corp., Eastdil Secured Advisors LLC
and RBC Capital Markets LLC acted as financial advisors to BREIT
and Simpson Thacher & Bartlett LLP acted as legal counsel.
The transaction was announced on January 24, 2022.
About Resource REIT, Inc. Resource REIT, Inc. (the “REIT”
or the “Company”) is a self-managed real estate investment trust
that owns a diverse portfolio of suburban apartment communities in
targeted markets across the United States. The REIT owns 42
multifamily properties across 13 states as of March 31, 2022.
About Blackstone Real Estate Income Trust, Inc.
Blackstone Real Estate Income Trust, Inc. (“BREIT”) is a
perpetual-life, institutional quality real estate investment
platform that brings private real estate to income focused
investors. BREIT invests primarily in stabilized, income-generating
U.S. commercial real estate across key property types and to a
lesser extent in real estate debt investments. BREIT is externally
managed by a subsidiary of Blackstone (NYSE: BX), a global leader
in real estate investing. Blackstone’s real estate business was
founded in 1991 and has approximately $298 billion in investor
capital under management. Further information is available at
www.breit.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220519005684/en/
Resource REIT Contact Resource Investor Relations (866)
469-0129 Resourceoperations@resourcereit.com
Blackstone Media Contact Jeffrey Kauth (212) 583-5395
Jeffrey.Kauth@Blackstone.com
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