Blackstone Real Estate Income Trust Completes Acquisition of Simply Self Storage for Approximately $1.2 Billion
December 18 2020 - 4:15PM
Business Wire
Blackstone Real Estate Income Trust, Inc. ("BREIT”) today
announced that it has completed its previously announced
acquisition of Simply Self Storage from a Brookfield Asset
Management real estate fund for approximately $1.2 billion. Simply
Self Storage’s high-quality portfolio comprises eight million
square feet across the U.S. With this acquisition, BREIT becomes
the third largest non-listed owner of storage in the U.S.1
Simpson Thacher & Bartlett LLP served as legal advisor to
BREIT, and BofA Securities and Deutsche Bank Securities Inc. served
as financial advisors to BREIT. RBC Capital Markets LLC, Newmark
Group Inc., and Fried, Frank, Harris, Shriver & Jacobson LLP
advised Brookfield.
The transaction was announced on October 26, 2020.
Blackstone Real Estate Income Trust
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 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 $174 billion in investor capital under
management. Further information is available at www.breit.com.
1 Includes private owners and non-listed REITs.
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Ilana Mouritzen Ilana.Mouritzen@Blackstone.com Tel: (212)
583-5776
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