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.
Advisory firms were not disclosed for this transaction.