Blackstone Allocates Billions More to Student Housing In American Campus Takeout
Students everywhere have a new landlord — the multi-billion dollar private equity company Blackstone is acquiring American Campus Communities (ACC) in a $13 billion deal. The deal will value the publicly-traded property company at $65.47/share, which was a 1 4% premium to its price on Monday evening.
The deal will give Blackstone exposure to 166 student-housing properties, with over 111,900 beds, in proximity to major campuses such as Arizona State University, UC-Berkeley, and Princeton.