Blackstone in $8B Deal for BioMed
ByNetwork with the nation’s top CRE dealmakers at RealShare APARTMENTS in Los Angeles on Oct 21-22,RealShare INDUSTRIAL in Atlanta on Nov 3-4, RealShare NEW LEASE WEST in Los Angeles on Nov 11-12 andRealShare HEALTHCARE REAL ESTATE in Scottsdale, AZ on Dec 2-3.
The deal with Blackstone maximizes shareholder value, says Gold.
NEW YORK CITY and SAN DIEGO—Jonathan Gray’s prediction that more REITs would be taken private came true as his company has now done just that. The global head of real estate at the Blackstone Group made his observation at an industry conference this past Thursday, one week before Blackstone announced that it would acquire BioMed Realty Trust for approximately $8 billion including the assumption of debt.
In a joint announcement Thursday morning, BioMed said its board had unanimously approved the all-cash agreement with Blackstone Real Estate Partners VIII. At $23.75 per share, the deal represents a 24% premium over the healthcare REIT’s closing price on Sept. 22, when rumors of a sale began to surface…
