NEW YORK, NY – Blackstone (NYSE: BX) today announced that affiliates of Blackstone Real Estate (“Blackstone”) have completed the previously announced acquisition of Bluerock Residential Growth REIT, Inc. (“Bluerock”) for $24.25 per share in an all-cash transaction valued at $3.6 billion.
Bluerock has also completed the previously announced spin-off of its single-family rental business into an externally managed, real estate investment trust, Bluerock Homes Trust, Inc. (NYSE American: BHM) (“BHM”). BHM began trading on the New York Stock Exchange American this morning.
Barclays and Wells Fargo Securities LLC served as Blackstone’s financial advisors, and Simpson Thacher & Bartlett LLP as Blackstone’s legal advisor. Morgan Stanley & Co. LLC and Eastdil Secured LLC served as Bluerock’s lead financial advisors with BofA Securities also serving as an advisor. Wachtell, Lipton, Rosen & Katz, KVCF, PLC, and Vinson & Elkins, LLP served as Bluerock’s legal counsel.