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Bluerock Residential Agrees To Be Acquired By Blackstone Real Estate In $3.6 Bln Deal

December 20, 2021 — 09:48 am EST

Written by RTTNews.com for RTTNews ->

(RTTNews) - Bluerock Residential Growth REIT Inc. (BRG) agreed to be acquired by Blackstone Real Estate for $24.25 per share in an all-cash transaction valued at $3.6 billion.

As per the terms of the deal, Blackstone will acquire 30 multifamily properties comprising approximately 11,000 units as well as a loan book secured by 24 multifamily assets. The majority of the properties are located in Atlanta, Phoenix, Orlando, Denver and Austin.

Completion of the acquisition is currently expected to occur in the second quarter of 2022.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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