Affiliates of Blackstone Real Estate Complete $7.6 Billion Acquisition of PS Business Parks, Inc.
2022年7月21日 - 2:36AM
ビジネスワイヤ(英語)
Blackstone (NYSE: BX) today announced that affiliates of
Blackstone Real Estate have completed the previously announced
acquisition of all of the outstanding shares of common stock of PS
Business Parks, Inc. (“PSB”) for $187.50 per share in an all-cash
transaction valued at approximately $7.6 billion, including
transaction expenses.
Simpson Thacher & Bartlett LLP served as Blackstone’s legal
counsel. BofA Securities, Citigroup Global Markets Inc., Barclays,
Morgan Stanley & Co. LLC and Societe Generale served as
Blackstone’s financial advisors. J.P. Morgan Securities LLC acted
as lead financial advisor to PSB and provided a fairness opinion to
the PSB board of directors in connection with the transaction.
Eastdil Secured acted as real estate advisor to PSB and also acted
as a co-financial advisor to PSB. Wachtell, Lipton, Rosen &
Katz served as PSB’s legal advisor.
The transaction was announced on April 25, 2022.
About PS Business Parks PS Business Parks, Inc. is a REIT
that acquires, develops, owns, and operates commercial properties,
predominantly multi-tenant industrial, industrial-flex, and
low-rise suburban office space. Located primarily in major coastal
markets, PS Business Parks’ 93 properties serve approximately 4,800
tenants in 27 million square feet of space as of June 30, 2022. The
portfolio also includes 800 residential units (inclusive of units
in-process). Additional information about PS Business Parks, Inc.
is available on the Company’s website, which can be found at
psbusinessparks.com.
Blackstone Real Estate Blackstone is a global leader in
real estate investing. Blackstone’s real estate business was
founded in 1991 and has US $298 billion of investor capital under
management. Blackstone is the largest owner of commercial real
estate globally, owning and operating assets across every major
geography and sector, including logistics, residential, office,
hospitality and retail. Our opportunistic funds seek to acquire
undermanaged, well-located assets across the world. Blackstone’s
Core+ business invests in substantially stabilized real estate
assets globally, through both institutional strategies and
strategies tailored for income-focused individual investors
including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S.
non-listed REIT, and Blackstone’s European yield-oriented strategy.
Blackstone Real Estate also operates one of the leading global real
estate debt businesses, providing comprehensive financing solutions
across the capital structure and risk spectrum, including
management of Blackstone Mortgage Trust (NYSE: BXMT).
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version on businesswire.com: https://www.businesswire.com/news/home/20220720005859/en/
Blackstone Jillian Kary (212) 583-5379
PS Business Parks Adeel Khan (818) 244-8080, Ext 8975
Blackstone (NYSE:BX)
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