{"id":169023,"date":"2022-02-17T09:19:18","date_gmt":"2022-02-17T14:19:18","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=169023"},"modified":"2022-02-17T09:19:18","modified_gmt":"2022-02-17T14:19:18","slug":"blackstone-pays-5-8b-to-acquire-preferred-apartment-communities-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/blackstone-pays-5-8b-to-acquire-preferred-apartment-communities-what-you-need-to-know\/","title":{"rendered":"Blackstone Pays $5.8B To Acquire Preferred Apartment Communities: What You Need To Know"},"content":{"rendered":"<h1>Blackstone Pays $5.8B To Acquire Preferred Apartment Communities: What You Need To Know<\/h1>\n<p>February 16, 2022 | Phil Hall | Markets Business Insider<\/p>\n<p><a href=\"https:\/\/qa.bluevaultpartners.com\/sponsor\/blackstone-group-lp\/\" target=\"_blank\" rel=\"noopener\">Blackstone Inc.<\/a>&nbsp;(NYSE:BX) is acquiring&nbsp;Preferred Apartment Communities Inc.&nbsp;(NYSE:APTS) for $5.8 billion in an all-cash transaction.<\/p>\n<p><strong>What Happened:&nbsp;<\/strong>The acquisition values Preferred Apartment at $25 per share. The purchase price represents a premium of approximately 39% over the unaffected closing stock price on Feb. 9, the date before a media report that uncovered the companies were exploring a deal.<\/p>\n<p>Blackstone is coordinating the acquisition through its Blackstone Real Estate Income Trust, and the deal encompasses Preferred Apartment\u2019s portfolio of 44 multifamily communities totaling approximately 12,000 units and 54 grocery-anchored retail properties across the Southeast. Also included are Preferred Apartment\u2019s two office properties and 10 mezzanine\/preferred equity investments that have been collateralized by multifamily assets that are either under construction or newly built.<\/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:\/\/markets.businessinsider.com\/news\/stocks\/blackstone-pays-5-8b-to-acquire-preferred-apartment-communities-what-you-need-to-know-1031201562\">\u2261 Read Article<\/a><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Blackstone Inc.\u00a0(NYSE:BX) is acquiring\u00a0Preferred Apartment Communities Inc.\u00a0(NYSE:APTS) for $5.8 billion in an all-cash&#8230;<\/p>\n","protected":false},"author":3464,"featured_media":161826,"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":[2934,2806,3010,2827,2710,2939,2817,2737,2965],"tags":[],"class_list":["post-169023","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","category-performance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - 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