Blackstone and Tricon Residential Inc. have announced a new agreement in which Blackstone Real Estate Partners X and Blackstone Real Estate Income Trust, Inc. (BREIT) will acquire all outstanding common shares of Tricon for $11.25 per share in cash, totaling US$3.5 billion.
After the acquisition, BREIT will maintain an 11% ownership stake in Tricon while the company continues to serve communities in high-growth markets such as Atlanta, Charlotte, Dallas, Tampa and Phoenix as well as Toronto.
Tricon not only manages a portfolio of single-family rental homes but also has development projects underway for approximately 2
