Blackstone Closes $8B Acquisition Of BioMed Realty
Nothing seems to stop Stephen Schwarzman's powerhouse: hours after Blackstone announced its Q4 profit fell 70%, the private equity giant completed a $8B acquisition of healthcare landlord BioMed Realty Trust.
Blackstone will acquire BioMed's real estate holdings—roughly 18.9M SF of rental space in key markets like Boston-Cambridge, San Francisco, Seattle, and San Diego.
Affiliates at Blackstone Real Estate Partners VIII paid $23.75 a share in cash for BioMed, which stopped trading on the New York Stock Exchange on Thursday.
The acquisition, first announced in October, is the latest major REIT transaction by the private equity giant. Since 2007, Blackstone has bought a series of REITs and took them private, building the largest real estate portfolio in the world.
