The Firm is representing Blackstone Core+ perpetual capital vehicles, primarily comprised of Blackstone Real Estate Income Trust, alongside Blackstone Property Partners, in their acquisition of American Campus Communities in an all-cash transaction valued at approximately $12.8 billion, including the assumption of debt. The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions, including the approval of ACC’s common stockholders.
ACC is the largest owner, manager and developer of high-quality student housing communities in the United States. The ACC portfolio includes 166 owned properties in 71 leading university markets, including Arizona State University, The University of Texas at Austin, Florida State University and the University of California – Berkeley.
The Firm has represented Blackstone in eight multi-billion dollar take private transactions during the past thirteen months.
The Simpson Thacher team includes Brian Stadler, Matt Rogers, Christopher Scavone, Keegan Lopez and James Crisp (M&A); Erik Quarfordt, Danielle Jackson, Sam Rudik, Brittany Baclawski, Michael Scala, Madeline Danziger, Katie Dunn and Jonathan Hoffman (Real Estate); Nancy Mehlman and Ruoxi Zhang (Tax); Andrew Blau, Kristy Fields and Guanxiong Xu (Executive Compensation and Employee Benefits); Jonathan Ozner and Wang Chen (Capital Markets); and Melanie Jolson (Intellectual Property).