Blackstone to buy American Campus Communities in $12.8 billion deal
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© Reuters. FILE PHOTO: Signage is seen exterior The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly/File Photograph(Reuters) -Asset supervisor Blackstone (NYSE:) Inc has agreed to purchase student-housing proprietor American Campus (NYSE:) Communities Inc for about $12.8 billion together with debt, the Wall Avenue Journal reported on Tuesday. (https://on.wsj.com/3EsXV8P)
The deal underscores Blackstone’s wager that rents will proceed to rise as schools open and college students return to campus, the report mentioned.
The businesses didn’t instantly reply to Reuters requests for remark.
The per-share value of the deal is $65.47, based on the WSJ report. That’s practically 14% larger than the inventory’s final shut.
ACC will likely be taken non-public by Blackstone Actual Property Revenue Belief Inc and Blackstone Property Companions, the report mentioned.
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