NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
No Result
View All Result
Home ALL Financial

Blackstone Funds Complete $13 Billion Acquisition of American Campus Communities

by Ed Johnson
August 10, 2022
A A

Austin, Texas and New York – Blackstone (NYSE: BX) today announced that Blackstone Core+ perpetual capital vehicles, primarily comprising Blackstone Real Estate Income Trust, Inc. (“BREIT”) and Blackstone Property Partners (“BPP”), have completed the previously announced acquisition of all of the outstanding shares of common stock of American Campus Communities, Inc. (“ACC”), the largest developer, owner and manager of high-quality student housing communities in the United States, for approximately $12.8 billion, including the assumption of debt.

“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. “This transaction created significant value for our shareholders and represents the culmination of our team’s 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. Student housing is a compelling sector with strong historical performance and future growth potential driven by increasing enrollment at the top universities in the U.S. as well as a shortage of quality housing supply. Our perpetual capital will enable ACC to invest in its existing assets and create much-needed new housing in university markets.” 

BofA Securities served as ACC’s lead financial advisor. KeyBanc Capital Markets Inc. also acted as a financial advisor. Dentons US LLP served as ACC’s legal counsel.

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 Blackstone’s financial advisors, and Simpson Thacher & Bartlett LLP acted as Blackstone’s legal counsel.

Tags: < Invest | M&A
ShareTweetShareSend

Related Industries

Financial

AIG Appoints Patricia J. Walsh as Executive Vice President and General Counsel

September 29, 2023
Financial

AIG Appoints Ed Dandridge as Executive Vice President and Chief Marketing & Communications Officer

September 22, 2023
Financial

Carlyle Joins GTCR As Strategic Investor in CAPTRUST

September 20, 2023
Financial

Visa and Swift Team Up to Enhance Transparency, Speed and Security in Global B2B Money Movement

September 20, 2023
Financial

Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion

September 14, 2023
Financial

CVC announces new Chief People Officer

September 13, 2023

Rockwell Automation Partners with Everactive, Increasing Customer Productivity and Sustainability

September 22, 2023

...

Carrier Named One of America’s Greenest Companies 2024 by Newsweek

September 29, 2023

...

Azurity Pharmaceuticals Acquires KKR-backed Slayback Pharma

September 28, 2023

...

Boston Scientific Announces Agreement to Acquire Relievant Medsystems, Inc.

September 20, 2023

...

Hilton Honors Shines Bright at the 2023 Frequent Traveler Awards for Excellence in the Travel Industry

September 30, 2023

...

IBM Brings New Capabilities to its Sustainability Software to Help Organizations Accurately and Efficiently Operationalize Scope 3 Greenhouse Gas Emissions Insights

September 21, 2023

...

Blackstone Integrates Leading Credit and Insurance Businesses to Form Blackstone Credit and Insurance (BXCI) in Push Toward Next $1 Trillion

September 14, 2023

...

Intel, Tower Semiconductor logos

Intel Foundry Services and Tower Semiconductor Announce New US Foundry Agreement

September 6, 2023

...

Dow collaborates with LanzaTech to launch readily bio-degradable cleaning solution that utilizes circular carbon capture

September 30, 2023

...

NORTH AMERICAN BUSINESS (www.na-biz.com) is a leading source of business and corporate news, information, industry trends, market updates and insights across a broad spectrum of industries in North America and worldwide.

MENU

  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

CONTACT US

EDITORIAL:     editor#na-biz.com

PARTNERSHIP:     biz#na-biz.com

HUMAN RESOURCE:     hr#na-biz.com

* (replace # with @)

  • Official Site

Copyright © NORTH AMERICAN BUSINESS All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © NORTH AMERICAN BUSINESS All rights reserved.