The largest private equity players in commercial real estate are in buying mode and several are zeroing in on large multifamily REITs in what may become a crescendo of mega-deals. These impending acquisitions may rival in size and scope Blackstone’s $13B all-cash transaction in 2022, when the firm swallowed student housing REIT American Campus Communities and its portfolio of 166 properties in 71 university markets.
“There’s obviously a big push toward deregulation, but M&A activity hasn’t really picked up that much,” Willy Walker, CEO of Walker & Dunlop said, during a keynote presentation at GlobeSt.’s spring multifamily event in NYC on Tuesday. “There are some larger REITs that are in the process of being taken private and these could be important bellwether events for the commercial real estate industry.”
“I know of three transactions right now where major investment banks want to take private certain REITs,” Walker added. “That goes back to the amount of private capital that’s out there.”
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