Blackstone has agreed to acquire student housing REIT American Campus Communities in an all-cash transaction valued at $12.8 billion, including debt.
Blackstone Core+ perpetual capital vehicles, primarily comprised of Blackstone Real Estate Income Trust and Blackstone Property Partners, will acquire all outstanding shares of common stock of ACC for $65.47 per share.
The purchase price represents a 14% premium to yesterday's closing price.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
