Blackstone Real Estate Income Trust to Sell Student Housing Portfolio to KKR for $1.64 Billion
04.25.24
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The Firm is representing Blackstone Real Estate Income Trust, Inc. (BREIT) in its recently announced sale of a student housing portfolio to funds managed by KKR for approximately $1.64 billion. The portfolio includes 19 student housing properties which span across 10 states and are anchored to 14 leading public universities. The transaction is anticipated to close in the third quarter of 2024, subject to customary closing conditions.
Simpson Thacher represented BREIT on its original acquisition of the portfolio through a joint venture with Greystar Real Estate Partners, LLC in 2018.
The Simpson Thacher team includes Krista Miniutti, Sam Rudik, Dorian Ledbetter and Philip Titcomb (Real Estate); and Nancy Mehlman, Edward Grais and Paul Jansch (Tax).