Affiliates of Blackstone Real Estate have closed on the previously announced Bluerock Residential Growth REIT acquisition for $24.25 per share in an all-cash transaction valued at $3.6 billion.
Bluerock also spun off its single-family rental business into an externally managed, real estate investment trust, Bluerock Homes Trust (BHM). BHM began trading on the New York Stock Exchange American this morning.
Barclays and Wells Fargo Securities served as Blackstone's financial advisors, and Simpson Thacher & Bartlett LLP as Blackstone's legal advisor. Morgan Stanley & Co. LLC and Eastdil Secured LLC served as Bluerock's lead financial advisors with BofA Securities also serving as an advisor. Wachtell, Lipton, Rosen & Katz, KVCF, PLC, and Vinson & Elkins, LLP served as Bluerock's legal counsel.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
