Blackstone Is 'Loading Up' On REITs (And You Should Too)
Blackstone(BX) Seeking Alpha·2024-08-25 21:00
maselkoo99 Self-made billionaires, Jon Gray and Steve Schwartzman, who lead the private equity powerhouse Blackstone (BX), have been pouring billions into REITs (VNQ) this year. They first acquired Tricon Residential (TCN) in a $3 billion transaction in January and paid a ~30% premium for it: YCHARTS Then they doubled down and acquired Apartment Income REIT (AIRC) in a huge $10 billion transaction in April and paid a ~25% premium this time: YCHARTS And now, they are rumored to be in talks to acquire ...