blackstone acquisitions
Dodane 10 maja 2023A rout in tech stocks last year shrank company valuations, making them enticing targets for private equity suitors. The report also condemned Blackstone for "using its significant resources and political leverage to undermine domestic laws and policies that would in fact improve access to adequate housing." A live webcast of the presentation will be available on the Shareholders section of Blackstones []. New York Blackstone advised on the 1987 merger of investment banks E. F. Hutton & Co. and Shearson Lehman Brothers, collecting a $3.5 million fee. [74] However, Blackstone failed to raise capital through an initial public offering that summer and the project were shelved. [14], In March 2008, Blackstone acquired GSO Capital Partners, a credit-oriented alternative asset manager, for $620 million in cash and stock and up to $310 million through an earnout over the next five years based on earnings targets. March 14 (Reuters) - Buyout firm Blackstone Inc (BX.N) agreed to purchase U.S. cloud-based event-software provider Cvent Holding Corp (CVT.O) in a deal valued at $4.6 billion, at a time when private equity firms are looking to scoop up tech companies for a bargain price. [4]:221223, In 2007, Blackstone acquired Alliant Insurance Services, an insurance brokerage firm. Ross B. Shuster to Join as CEO of Standalone Climate Technologies Business Following the Close of the Acquisition by Blackstone from Emerson Published: April 24, 2023 at 9:00 a.m. Blackstone Group on November 15, 2019, invested $167 million in the holding company of Future Lifestyle Fashions Ltd., Ryka Commercial Ventures Pvt. See 28 U.S.C. "Blackstone To Rationalize Single Manager Hedge Funds Businesses In Efficiency Move", The Blackstone Group to Acquire Prime Hospitality Corp, "Steve Bollenbach, hospitality executive, 1942-2016", Private-Equity Firm Sees Room for Value in Hotels, "Here's Why Wyndham Worldwide Just Bought La Quinta", Blackstone's Bid for Equity Office Prevails, Blackstone Alliance to Buy Chip Maker for $17.6 Billion, VNU Shareholders Reject $8.9 Bln Offer From KKR Group, VNU Agrees To Public Offer From Private Equity Group, "Blackstone Plans to Acquire Cendant Travel Services Unit", "Private-equity companies snap up United Biscuits in a 1.6bn deal", "Blackstone and PAI complete purchase of UB", "The Blackstone Group Has Completed Its Acquisition of a Controlling Interest in RGIS", "Biomet, Inc. to Be Acquired by Private Equity Consortium for $10.9 Billion or $44 Per Share in Cash", Blackstone to Buy Hilton Hotels for $26 Billion, Private Firms Use Closed-End Funds to Tap the Market, "KKR buys Alliant in 'pass the parcel' deal", Blackstone Founders Prepare to Count Their Billions, News Analysis Behind the Veil at Blackstone? 1. [81], In December 2009, Blackstone acquired Busch Entertainment Corporation from Anheuser-Busch InBev for $2.9 billion. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. The Firms most common exit type is trade sale (39%). The Blackstone Groups largest (disclosed) exit occurred in 2019 when it sold Refinitiv for $27.0B. At the time of its announcement, the EQ Office buyout became the largest in history, surpassing the buyout of, A consortium led by Blackstone and including the, Blackstone, together with Bain Capital, acquired Michaels, the largest arts and crafts retailer in North America in a $6.0 billion leveraged buyout in October 2006. Blackstone's most notable transactions during this period included the following: In 2004, Blackstone had explored the possibility of creating a business development company (BDC), Blackridge Investments, similar to vehicles pursued by Apollo Management. In July 2008, Blackstone, together with NBC Universal and Bain Capital acquired The Weather Channel from Landmark Communications for $3.5 billion. During the buyout boom of 2006 and 2007, Blackstone completed some of the largest leveraged buyouts. Save Search . Follow @blackstone on LinkedIn, Twitter, and Instagram. Blackstone Inc. agreed to buy student-housing owner American Campus Communities Inc. in a deal valuing the company at about $12.8 billion, including debt, a bet that rents will continue to rise as . Blackstone (NYSE: BX) announced that, upon close of the previously announced transaction through which private equity funds managed by Blackstone ("Blackstone") will acquire a majority stake in Emerson's (NYSE: EMR) Climate Technologies business, Ross B. Shuster will become Chief Executive Officer of the new standalone business. Blackstone brought in five professionals, led by Howard Gellis from Nomura Holding America's Leveraged Capital Group to manage the business. The largest investors in the first fund included Prudential Insurance Company, Nikko Securities and the General Motors pension fund. In March 2018, Blackstone Real Estate Income Trust, Inc. acquired a 22 million square foot portfolio of industrial properties from Cabot Properties for $1.8 billion. In October 2021, Blackstone acquired the Nucleus Network, Australia's premier clinical researcher, who are providing staple 'healthy' volunteers large financial rewards for drug trials. Portions of this site are directed only to persons in certain jurisdictions. After a resistance of residents and questions regarding the legality of the purchase agreement, Blackstone withdrew from it in October 2019. At the end of 2002, Blackstone, together with Thomas H. Lee Partners and Bain Capital, acquired Houghton Mifflin Company for $1.28 billion. The U.S. federal government is ticking closer to its "x-date," when it will no longer be able to pay its bills and risk a default that would shake the world economy. Blackstone is a member of the Real Estate Roundtable, a special interest group which spends millions on lobbying and political donations every year. ContactsMatthew Anderson(518) 248-7310[emailprotected], Mariel Seidman-Gati(646) 482-3712[emailprotected]. "[180] The report alleged that Blackstone had abused tenants with exorbitant fees, rent hikes, and aggressive eviction practices, and that Blackstone's real estate practices had a disproportionate impact on communities of color, in part because the company targeted foreclosures resulting from subprime loans. The industry leader for online information for tax, accounting and finance professionals. Acquisition expected to be accretive in 2017 to Total Adjusted EBITDA and EPS . [181], United Nations housing rapporteur Leilani Farha and Surya Deva, chair of the UN Working Group on Business and Human Rights, criticized Blackstone's business practices, including frequent rent increases and "aggressive" evictions, for contributing to the global housing crisis. Switchboard:+1 (212) 583-5000. Our perpetual capital will enable ACC to invest in its existing assets and create much-needed new housing in university markets.. . Blackstone (NYSE: BX) is a private equity, investment banking, alternative asset management, and financial services corporation that specializes in investment strategies, as well as financial advisory services. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. In March 2018, Blackstone's Strategic Capital Holdings Fund invested in, In March 2018, the company's Strategic Capital Holdings Fund announced an investment in, In August 2018, PSAV was able to merge with, In September 2018, the company acquires control of. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Wells Fargo Securities LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Goldman Sachs, Morgan Stanley & Co. LLC, SMBC, a member of SMBC Group, and TSB Capital Advisors served as Blackstones financial advisors, and Simpson Thacher & Bartlett LLP acted as Blackstones legal counsel. Blackstone paid $133 million for the property a discount to replacement cost, sources said and secured $65.8 million in Freddie Mac financing for the purchase. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. In January 2021, Blackstone acquired a majority shareholding in, In March 2021, Blackstone made a $6.2 billion takeover bid for Australian casino operator. The acquisition became effective as of the close of business on April 30, 2023. . Their most recent acquisition was Cvent on Mar 14, 2023. BSP provides services to its Blackstone affiliates, not to investors in its funds, strategies or other products. Apr 26, 2023 IST 3 Min (s) Read Private equity firm Blackstone will acquire a majority stake in digital services provider R Systems International Ltd. At Lehman, Schwarzman served as head of Lehman Brothers' global mergers and acquisitions business. The Firms most common investment types include buyout (lbo, mbo, mbi) (24%) and secondary buyout (23%). [172] GSO was founded in 2005 by Bennett Goodman, Tripp Smith, and Doug Ostrover. For office-specific contact information, please visitour offices page. Ross brings the necessary skills and experience scaling global, sustainability-focused businesses to capitalize on this environment. TOKYO, April 28, 2023 Blackstone (NYSE: BX) today announced the sale of a portfolio of six logistics assets located across Japan to GIC for more than US$800 million. No stranger to data centers, Blackstone and its affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc., and Blackstone Property Partners bought the REIT for $10 billion and took the company . Blackstone's largest transaction, the $26 billion buyout of Hilton Hotels Corporation occurred in 2007 under the tenure of Hilton CFO Stephen Bollenbach. Blackstone expands further into rental housing in the United States. IDG, Inc. and its subsidiaries have made multiple recent acquisitions to further increase its capabilities for its customers. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Previously, he spent 12 years with United Technologies, holding several leadership positions including as a business unit President within the Climate, Controls & Security Global Business. Legence . The deal between Blackstone and Advent International-backed ASK Group was signed on Tuesday, according to these people. In April 2022, Blackstone agreed to acquire the Austin-based, In April 2022, Blackstone announced that it would acquire, Reginald ("Reg") J. Rocky Mountain states (CommNet Cellular) were among the most successful of the era, generating $1.5 billion of profits for Blackstone's funds. Shuster Brings More Than 25 Years of Leadership Experience, Growing and Transforming Global, Sustainability-Focused BusinessesBlackstone Investment to Help Power Next Phase of Growth for the Standalone Climate Technologies Business Products, Which Play Key Role in Energy Efficient Heating and Cooling Solutions. Also, in 1996, Blackstone partnered with the Loewen Group, the second largest funeral home and cemetery operator in North America, to acquire funeral home and cemetery businesses. Our scale - with more than 12,000 real estate assets and 250 portfolio companies - enables us to invest in dynamic sectors positioned for long-term growth. Blackstone disputed these claims.[182]. The Firm's most common exit type is trade sale (39%). We do this by using extraordinary people and flexible capital to help companies solve problems. As of today's closing, Thomson Reuters indirectly owns 82.5 million LSEG shares, which have a market value of approximately $9.8 billion based on LSEG's closing share price on January 28, 2021. [31][32][33], In 1995, Blackstone sold its stake in BlackRock to PNC Financial Services for $250 million. [75] It also planned to raise a fund on the Amsterdam stock exchange in 2006, but its rival, Kohlberg Kravis Roberts & Co., launched a $5 billion fund there that soaked up all demand for such funds, and Blackstone abandoned its project. In the last 3 years, The Blackstone Group has acquired 36 companies. The real estate group will consider both equity and debt investments. Now with the focus of a standalone company, and with the support of Blackstone, we are poised to build this already strong business into an unmatched global leader in the areas of energy efficiency and sustainability., We are thrilled to welcome Ross and are confident he is the right person to lead this world-class business as we prepare to further advance its position as the partner of choice in the climate technologies space, said Seth Meisel, Senior Managing Director at Blackstone. Blackstone, Kohlberg Kravis Roberts, TPG Capital and Goldman Sachs Capital Partners acquired Biomet, a medical device manufacturer for $10.9 billion. Companies Contacts Investors Funding Rounds Acquisitions People Events . Thomson Reuters and Blackstone's consortium subsequently agreed to sell Refinitiv to LSEG in August 2019. Blackstone 's real estate investment trust (REIT) limited its redemptions for the sixth month in a row in April, after investors tried to pull $4.5 billion out of the property giant.. Blackstone Real Estate Income Trust (BREIT) let its shareholders pull out $1.3 billion, or roughly 29 percent of what they requested to withdraw, as a rush of investors looked to take money out of the $70 . [171], In 1990, Blackstone created a fund of hedge funds business to manage internal assets for Blackstone and its senior managers. Blackstone Group's Blackstone Real Estate Income Trust (BREIT) has reached an agreement for the acquisition of Home Partners of America (HPA). They acquired Cvent for $4.6B. HE'S ALSO THE CEO WHOSE STOCK HAS BLOWN AWAY INTEL AND MICROSOFT SO FAR IN THE 1990S. Otherwise, we will assume you're OK to continue. [14], Blackstone has primarily relied on private equity funds, pools of committed capital from pension funds, insurance companies, endowments, fund of funds, high-net-worth individuals, sovereign wealth funds, and other institutional investors. United Nations condemnation of the Invitation Homes project and lobbying efforts, Sorkin, Andrew Ross and Flynn, Laurie J. ET. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. [28] In 1993, Hospitality Franchise Systems acquired Super 8 Motels for $125 million. The Blackstone Group was formed in 1987 and is based in New York City. The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. Switchboard: +1 (212) 583-5000. Further information is available at www.blackstone.com. See here for a complete list of exchanges and delays. The partnership's first acquisition was a $295 million buyout of Prime Succession from GTCR. The Blackstone Groups most common sectors for investment arecommunications (9%) and information technology (7%) . Mr. Shuster is a veteran executive who brings more than 25 years of leadership experience that will enable the business to unlock meaningful value in its next phase as a standalone company. Blackstone to acquire majority stake in R Systems for Rs 2,904 crore Blackstone is buying the promoters' stake for Rs 245 per share, a premium of 3.9 per cent on the current price of Rs 235.8 per share. (Petros) -- "a stone" or "a boulder," Peter, one of the twelve apostles", "Blackstone's Chief Has a Warning for Wall Street's Entrepreneurs", A Big Fund Ready to Capitalize on Hard Times, CNW Accepts Buyout Bid From Blackstone Group, 2 Wall Street Firms Join To Buy Savings Units, "Stephen Schwarzman And Blackstone: Wall Street's Unstoppable Force", "U.S. Mergers Firm Is Forming British Link", Prime to Sell Interest in Inns to Blackstone, U.S. Mergers Firm Is Forming British Link, "WHO THE HELL IS HENRY SILVERMAN? [6][7][8] The two founders had previously worked together at Lehman Brothers. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in . For information on our privacy practices see our Privacy Policy. Senior Vice President Capital Markets & Investor Relations. By selecting the relevant option, you certify that it accurately reflects your residency. Otherwise, we will assume you're OK to continue. The transaction values the Chicago-based firm at $6 . In February 2016, Blackstone sold four office buildings to, In April 2016, Blackstone acquired 84 percent of, On June 19, 2017, Blackstone acquired a majority interest in, In July 2017, the company announced an investment in, In January 2018, the company acquired Pure Industrial, a Canadian, In January 2018, the company announced acquisition agreement for 55% of. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. In January 2016, Blackstone Real Estate Partners VIII L.P. acquired BioMed Realty Trust for $8 billion. [169], On December 1, 2022, Blackstone Inc. restricted withdrawals from its $125 billion real estate investment fund BRIET due to a surge in redemption requests from investors. The two founders, who had previously run the mortgage-backed securities divisions at First Boston and Lehman Brothers, respectively, initially joined Blackstone to manage an investment fund and provide advice to financial institutions. Tysons, Va. - March 14, 2023 - Cvent Holding Corp. ("Cvent") (Nasdaq: CVT), an industry-leading meetings, events and hospitality technology provider, today announced that it has entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone ("Blackstone") in a transaction valued at an enterprise For press inquiries, contact[emailprotected]. The program encourages increased collaboration among local business leaders with the goal of retaining high-growth companies in the state. This is their second majority acquisition of an Indian tech firm after it acquired a controlling stake in Mphasis for nearly $3 billion in April last year. Our $991 billion in assets under management include investment vehicles focused on private equity, real estate, public equity, infrastructure, life sciences, growth equity, liquid and private credit, real assets and secondary funds, all on a global basis. By submitting this request, you consent to receive email from Blackstone. throughout the United States. [4]:4556[5] The founders named their firm "Blackstone," using a cryptogram derived from the names of the two founders (Schwarzman and Peterson). Reuters reported last month that Cvent had rejected a previous offer of $3.9 billion from Blackstone and said it was exploring a sale that could value it at about $4 billion, citing a person familiar with the matter. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. KeyBanc Capital Markets Inc. also acted as a financial advisor. [38] In 1999, Blackstone partnered, together with Apollo Management to provide capital for Allied Waste's acquisition of Browning-Ferris Industries. Switchboard:+1 (212) 583-5000. In September 2019, Blackstone announced it agreed to purchase 65% controlling interest in, On November 8, 2019, Blackstone Group acquired a majority stake in MagicLab, the owner of dating app. We are proud and excited to have our best-in-class company join Blackstone, whose expertise, resources and consistent access to capital will allow us to grow and continue to lead the student housing industry, said Bill Bayless, American Campus Communities Co-founder and Chief Executive Officer. For office-specific contact information, please visit our our offices page. 10154-0191 For office-specific contact information, please visit our our offices page. Cvent was valued at $5.3 billion in 2021 when Vista, which had acquired it for $1.65 billion a few years ago, took it public in a merger with a blank-check acquisition company. The appointment follows an extensive global search process, including external and internal candidates. Nikko's investment allowed for a major expansion of the firm and its investment activities. Sectors of Interest: Agriculture, Airlines, Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Digital Media, Distribution, E-Commerce, Electrical Equipment, Electronics, Energy Services and Equipment, Environmental, Financial Services, Food, Franchising, Gaming, Healthcare Services, Information Technology, Insurance, Internet Software and Services, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Metals/Mining, Oil/Gas Exploration, Packaging, Publishing, Real Estate, Renewable Energy, Restaurants, Retail, Safety/Security, Semiconductors, Software, Staffing, Technology Hardware, Transportation, Utilities, Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, PIPE, Secondary Buyout, Stake Purchase, Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Australia/New Zealand, Central Asia/India. It focuses on private equity, real estate, hedge fund solutions (BAAM), credit businesses, closed-end mutual funds, and advisory and . - October 27, 1997", The Loewen Group and Blackstone Capital Partners form corporate venture to acquire Prime Succession, Loewen And Blackstone To Make Joint Purchase, Loewen Buys Big Cemetery, And Its Suitor Criticizes Deal, Red-Hot Revival in Real Estate; Overheating Is Feared With Surge in Vulture Investing, "Blackstone Group Creates Buyout Fund for $4 Billion", A.I.G. Blackstone is a global leader in real estate investing. (212) 583-5000 NEW YORK and OVERLAND PARK, Kan. - August 31, 2021 - Blackstone (NYSE: BX) and QTS Realty Trust (NYSE: QTS) today announced that affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc., and Blackstone Property Partners have completed their previously announced acquisition of QTS Realty Trust for approximately This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Blackstone Real Estate Income Trust ("BREIT") is authorized for distribution. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. BOSTON, MA & NEW YORK, NY - November 17, 2021 - Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone ("Blackstone") have completed their previously announced acquisition of International Data Group, Inc. ("IDG") from Oriental Rainbow, LLC, a subsidiary of China Oceanwide Holdings Group, Co. Ltd. for an enterprise Blackstone is one of the world's leading investment firms. The transaction, comprising 4 million square feet of warehouses, is one of the largest logistics portfolio transactions ever reported in Japan, and reinforces Blackstones commitment to []. [85], Blackstone operates through four primary departments: private equity; real estate; hedge funds; and credit. By selecting the relevant option, you certify that it accurately reflects your residency. To view recent press releases,click here. 6/3/2021. For office-specific contact information, please visit our our offices page. In December 2008, Blackstone announced that Kailix would be spun off to its management team to form a new fund as an independent entity backed by Blackstone. ", Teachers Insurance and Annuity Association, List of outdoor industry parent companies, https://companiesmarketcap.com/kohlberg-kravis-roberts/revenue/, "Blackstone Group Inc 2021 Annual Report (Form 10-K)", "Blackstone Reports Third Quarter 2022 Results", Private equity power list: #1 The Blackstone Group, "English Translation of "schwarz" | Collins German-English Dictionary", "petro-, petr-, petri-, peter- - Word Information", "Strong's Greek: 4074. In January 2008, Blackstone made a small co-investment alongside TPG Capital and Apollo Management in their buyout of Harrah's Entertainment, although that transaction had been announced during the buyout boom period. The properties will complement its already significant holdings under Blackstone's subsidiary Pure Industrial, which it acquired and privatized in 2018 in a $3.8 billion transaction. [53], While Blackstone was active on the corporate investment side, it was also busy pursuing real estate investments. BofA Securities served as ACCs lead financial advisor. Individual Investors & Financial Advisors, The transaction was announced on April 19, 2022. For press inquiries, contact [emailprotected]. Cvent on Tuesday posted a loss of $100.3 million in 2022, wider than $86.1 million it reported a year earlier. Blackstone spent at least $6.2 million to defeat California's Proposition 10, which would have allowed cities to enact rent control. [4]:148155, Blackstone Real Estate Advisers, its real estate affiliate, bought the Watergate complex in Washington D.C. in July 1998 for $39 million[41] and sold it to Monument Reality in August 2004. Including its owned and third-party managed properties, ACCs total managed portfolio consisted of 204 properties with approximately 143,100 beds. [40], Blackstone's investments in the late 1990s included AMF Group (1996), Haynes International (1997), American Axle (1997), Premcor (1997), CommNet Cellular (1998), Graham Packaging (1998), Centennial Communications (1999), Bresnan Communications (1999), PAETEC Holding Corp. (1999). The company restructured its debt in 2010. For press inquiries, contact [emailprotected]. Blackstone's investment in Allied was one of its largest at that point in the firm's history. We also want to thank Jamie Froedge for his significant work in establishing this industry-leading business, and we look forward to investing in this team as we build on the strong foundation.. On February 14, 2022 Crown Resorts accepted Blackstone's takeover offer. Switchboard: +1 (212) 583-5000. Dentons US LLP served as ACCs legal counsel. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. The combined entity created one of the largest credit platforms in the alternative asset management business, with over $21 billion under management. Blackstone announced that it will open a new office in Frankfurt, Germany. [162], Blackstone's most notable real estate investments have included EQ Office, Hilton Worldwide, Trizec Properties, Center Parcs UK, La Quinta Inns & Suites, Motel 6, Wyndham Worldwide, Southern Cross Healthcare and Vicinity Centres. The Blackstone Group is a global alternative investment management firm. Other notable investments that Blackstone completed in 2008 and 2009 included AlliedBarton, Performance Food Group,[79][80] Apria Healthcare and CMS Computers. Download Prospectus. Haynes and Republic Technologies International, both had problems and ultimately filed bankruptcy. I am excited by the opportunity to work alongside the talented team that makes up this business in order to build upon a decades-long track record of success and innovation. [16] The growth firm also recruited politician and investment banker David Stockman from Salomon Brothers in 1988. In February 2011, the company acquired Centro Properties Group US from, In November 2011, a fund managed by the company acquired medical biller, In late 2011, Blackstone Group LP acquired, In August 2012, Blackstone was part of a consortium that financed, In October 2012, the company acquired G6 Hospitality, operator of. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. As of June 30, 2022, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. To view recent press releases,click here. The transaction represented one of the first large club deals completed since the collapse of the Dot-com bubble. This transaction created significant value for our shareholders and represents the culmination of our teams passionate and dedicated service to our student residents and university partners., Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate, said, We are pleased to complete this transaction and welcome the American Campus Communities team to Blackstone.
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