About This Deal

Blackstone acquired PS Business Parks, Inc. for Approximately $7.6 billion ($187.50 per share in cash), a transaction completed in July 2022, structured as All cash (affiliates of Blackstone Real Estate).

PS Business Parks, Inc. operates in Real estate — industrial/flex and suburban office (REIT take-private), is based in Glendale, California, USA (93 properties, ~27 million sq ft, primarily coastal markets).

PS Business Parks owned a portfolio concentrated in multi-tenant industrial, industrial-flex and suburban office space in major coastal markets, extending Blackstone Real Estate's logistics- and industrial-weighted holdings.

Deal Terms

Acquirer
Blackstone
Target
PS Business Parks, Inc.
Value
Approximately $7.6 billion ($187.50 per share in cash)
Date
July 2022
Type
Acquisition
Status
Ready

Transaction Details

Target HQ
Glendale, California, USA (93 properties, ~27 million sq ft, primarily coastal markets)
Segment
Real estate — industrial/flex and suburban office (REIT take-private)
Structure
All cash (affiliates of Blackstone Real Estate)
Announced
April 25, 2022
Closed
July 20, 2022

Advisors

Advisory firms were not disclosed for this transaction.

Related Deals & Entities

Sources: Press release ↗

See how Top Bucket AI works for your firm

Request Demo
Top Bucket AI Research

Stay ahead of private markets

Research and market intelligence for private-markets professionals.

✓

You're subscribed.

Thanks for signing up.