Blackstone adds to bet on student housing with $13 billion deal
Blackstone and other PE firms are wagering that off-campus housing will provide better returns than apartments and other residential assets, which have soared in value since the pandemic.
Blackstone Inc. is increasing its investment in student housing as the U.S. emerges from the Covid-19 pandemic, agreeing to buy American Campus Communities Inc. in a cash transaction valued at about $12.8 billion.
The all-cash transaction is the largest student-housing deal by the Blackstone Real
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