Blackstone REIT completes $3.7bn acquisition of Resource REIT

Blackstone REIT completes $3.7bn acquisition of Resource REIT

Blackstone Real Estate Income Trust has completed its previously announced acquisition of all of the outstanding shares of common stock of Resource REIT for $14.75 per share in an all-cash transaction valued at $3.7 billion, including the assumption of the REIT’s debt.

Blackstone Real Estate Income Trust has acquired the Resource REIT’s portfolio of multifamily, garden-style assets comprised of 42 apartment communities totaling more than 12,600 units.