Blackstone completes $7.6bn acquisition of PS Business Parks

Blackstone completes $7.6bn acquisition of PS Business Parks

Affiliates of Blackstone Real Estate have completed the previously announced acquisition of all of the outstanding shares of common stock of PS Business Parks for $187.50 per share in an all-cash transaction valued at approximately $7.6 billion.

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 PS Business Parks and provided a fairness opinion to the PS Business Parks board of directors in connection with the transaction.

Eastdil Secured acted as real estate advisor to PS Business Parks and also acted as a co-financial advisor to PSB. Wachtell, Lipton, Rosen & Katz served as PS Business Parks’ legal advisor.

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