Blackstone has agreed to acquire a real estate investment trust (REIT) BioMed Realty Trust for $8 billion in cash, or $23.75 per share, Private Healthcare Investor reports.
Blackstone bought the REIT from its Real Estate Partners VIII fund, which held a final close on $15.8 billion on 1 October after making investments such as the acquisition of General Electric real estate assets and announced acquisition of Strategic Hotels, another REIT.
This deal, approved unanimously by BioMed’s board of directors, represents a premium of about 24 per cent over the unaffected closing stock price on 22 September. It is expected to close in the first quarter of next year, if BioMed’s stockholders approve.
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