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© Reuters. FILE PHOTO: Signage is seen outdoors The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly(Reuters) -Blackstone Inc on Monday raised its bets on the property sector with a $7.6 billion deal to purchase actual property funding belief (REIT) PS Enterprise Parks (NYSE:).
Underneath the deal, associates of Blackstone (NYSE:) Actual Property pays shareholders of PS Enterprise Parks $187.50 for every share they personal, marking a premium of almost 12% to the inventory’s final closing value.
The deal introduced by the 2 corporations comes lower than every week after the world’s greatest various asset supervisor introduced a $12.8 billion deal for scholar housing firm American Campus (NYSE:) Communities Inc.
Blackstone had in December agreed to purchase Bluerock Residential Development (NYSE:) REIT in a $3.6 billion deal.
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