Bluerock Residential Growth REIT approve acquisition by Blackstone Real Estate

Bluerock Residential Growth REIT announced that stockholders have approved at a special meeting the proposed acquisition of the company by affiliates of Blackstone Real Estate.

The acquisition will occur after the spin-off of the company’s single-family rental business through the taxable distribution to common stockholders of all outstanding shares of common stock of a newly formed real estate investment trust named Bluerock Homes Trust, Inc. (BHM).

The company common stockholders will receive $24.25 in cash per share of company common stock in the acquisition in addition to the BHM common stock they will receive in the spin-off.

The acquisition and spin-off are expected to close in second quarter 2022.