BREIT Finalizes $3.7 Billion Deal to Expand Multifamily Portfolio Through Resource REIT Acquisition

Blackstone’s real estate income platform has successfully completed the acquisition of Resource REIT, marking a significant expansion in its residential property holdings. The transaction, valued at $3.7 billion on a cash basis including assumed liabilities, reflects the ongoing consolidation in the commercial real estate sector as major investors seek stabilized income-generating assets.

Transaction Details and Valuation

The all-cash acquisition of Resource REIT was executed at $14.75 per share, providing shareholders with immediate liquidity in a challenging market environment. The deal represents one of the largest multifamily portfolio acquisitions by a major real estate platform in recent years, underscoring strong institutional investor appetite for stabilized residential real estate assets despite broader market headwinds.

Resource REIT’s Property Portfolio

Prior to the acquisition completion, Resource REIT maintained a geographically diversified collection of 42 multifamily properties distributed across 13 states. This suburban-focused property portfolio generated consistent income streams through residential leasing operations, making it an attractive consolidation target for larger real estate platforms seeking to enhance their income-generating capabilities.

Strategic Context for Blackstone Real Estate Income Trust

BREIT operates as a perpetually-structured investment vehicle designed for income-focused institutional investors seeking exposure to private real estate markets. The platform primarily deploys capital toward stabilized, income-producing U.S. commercial properties across major asset classes, with selective participation in real estate debt instruments. This acquisition aligns with BREIT’s stated strategy of building a diversified portfolio of mature, cash-flowing assets managed by Blackstone’s real estate division.

Blackstone’s Market Position

Blackstone’s real estate business, established in 1991, currently manages approximately $298 billion in investor capital globally. The company maintains market leadership in alternative real estate investing through its diverse platforms serving different investor segments. The Resource REIT acquisition demonstrates the continued strength of Blackstone’s acquisition capabilities and its ability to execute large-scale consolidation transactions in the residential real estate sector.

The transaction was supported by prominent financial and legal advisors, reflecting the scale and complexity of the $3.7 billion deal. BREIT’s acquisition strategy continues to focus on building institutional-quality real estate portfolios that deliver stable returns to shareholders across market cycles.