S&P Capital IQ
Bluerock Residential Growth REIT Inc. shareholders approved the company’s planned acquisition by the affiliates of Blackstone Real Estate Income Trust Inc.
The acquisition will occur after Bluerock Residential spins off its single-family rental business through the taxable distribution of the entire outstanding common shares of a newly formed real estate investment trust called Bluerock Homes Trust Inc. to common shareholders.
Bluerock Residential shareholders will be paid $24.25 in cash per common share in addition to the Bluerock Homes common stock that they will receive in the spinoff.
The acquisition and the spinoff are scheduled to close in the second quarter, at which time Bluerock Residential’s common stock and preferred stock will be delisted.
