{"id":169022,"date":"2022-02-17T09:11:18","date_gmt":"2022-02-17T14:11:18","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=169022"},"modified":"2022-02-17T09:11:18","modified_gmt":"2022-02-17T14:11:18","slug":"blackstone-to-buy-preferred-apartment-communities-for-5-8b","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/blackstone-to-buy-preferred-apartment-communities-for-5-8b\/","title":{"rendered":"Blackstone to Buy Preferred Apartment Communities for $5.8B"},"content":{"rendered":"<h1>Blackstone to Buy Preferred Apartment Communities for $5.8B<\/h1>\n<p>February 16, 2022 | Erika Morphy | GlobeSt.com<\/p>\n<p><a href=\"https:\/\/qa.bluevaultpartners.com\/sponsor\/blackstone-group-lp\/\" target=\"_blank\" rel=\"noopener\">Blackstone Real Estate Income Trust<\/a> has entered into a definitive agreement to acquire Preferred Apartment Communities in an all-cash deal valued at $5.8 billion, or $25 per share.&nbsp;<\/p>\n<p>PAC\u2019s portfolio, which BREIT is acquiring, includes 44 multifamily communities totaling approximately 12,000 units concentrated largely in Atlanta, Orlando, Tampa, Jacksonville, Charlotte and Nashville, and 54 grocery-anchored retail assets comprising approximately six million square feet located mostly in Atlanta, Orlando, Nashville and Raleigh.&nbsp;<\/p>\n<p>BREIT will also acquire the company\u2019s two Sun Belt office properties and 10 mezzanine \/ preferred equity investments collateralized by under construction and newly-built multifamily assets.<\/p>\n<p>\u201cWe are pleased to acquire Preferred Apartment Communities and its portfolio of high-quality multifamily assets in key Sun Belt markets, which represents a significant majority of the company\u2019s value,\u201d Jacob Werner, co-head of Americas Acquisitions for Blackstone Real Estate, said in prepared remarks.&nbsp;<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.globest.com\/2022\/02\/16\/blackstone-to-buy-preferred-apartment-communities-for-5-8b\/\">\u2261 Read Article<\/a><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Blackstone Real Estate Income Trust has entered into a definitive agreement to acquire Preferred Apartment Communities in an all-cash deal valued at&#8230;<\/p>\n","protected":false},"author":3464,"featured_media":167737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"single-article.php","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2934,2806,3010,2827,2710,2939,2817,2737],"tags":[],"class_list":["post-169022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-asset-class","category-asset-manager-news","category-asset-managers","category-blackstone","category-commercial-real-estate","category-multifamily","category-offering-type"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - 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