Blackstone Real Estate Income Trust’s $3.7 Billion Acquisition of Resource REIT

Simpson Thacher represented Blackstone Real Estate Income Trust on the deal. Fried Frank acted as counsel to Lazard as financial advisor to Resource REIT.

Blackstone Real Estate Income Trust announced its acquisition of Resource REIT, Inc. in an all-cash transaction valued at $3.7 billion. The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions, including the approval of Resource REIT’s common stockholders.

Resource REIT is a publicly registered non-traded REIT with a portfolio of multi-family, garden-style assets comprised of 42 apartment communities totaling more than 12,600 units. The assets span 13 states, including Arizona, Colorado, Georgia and Texas.

The Simpson Thacher team included Brian Stadler (Picture), Matt Rogers and Louis Argentieri (M&A); Erik Quarfordt, Rachel Stein, David Rosenberg, Gianna Ceophas and Kristen Lucas (Real Estate); Nancy Mehlman and Ruoxi Zhang (Tax); Andrew Blau and Ryan Stott (Executive Compensation and Employee Benefits); Timothy Mulvihill and Noreen Lavan (Environmental); and Melanie Jolson (Intellectual Property).

The Fried Frank team was led by corporate partner Roy Tannenbaum and included corporate partner Philip Richter and corporate associate Christian Abouchaker.

Involved fees earner: Christian Abouchaker – Fried Frank Harris Shriver & Jacobson; Philip Richter – Fried Frank Harris Shriver & Jacobson; Roy Tannenbaum – Fried Frank Harris Shriver & Jacobson; Louis Argentieri – Simpson Thacher & Bartlett; Andrew Blau – Simpson Thacher & Bartlett; Gianna Ceophas – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Kristen Lucas – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Erik Quarfordt – Simpson Thacher & Bartlett; Matthew Rogers – Simpson Thacher & Bartlett; Brian Stadler – Simpson Thacher & Bartlett; Rachel Stein – Simpson Thacher & Bartlett; Ryan Stott – Simpson Thacher & Bartlett; David Zev Rosenberg – Simpson Thacher & Bartlett; Ruoxi Zhang – Simpson Thacher & Bartlett;

Law Firms: Fried Frank Harris Shriver & Jacobson; Simpson Thacher & Bartlett;

Clients: Blackstone Real Estate Income Trust, Inc.; Lazard;

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Author: Youness Semri