Blackstone Real Estate Income Trust Completes Acquisition of Simply Self Storage for Approximately $1.2 Billion
NEW YORK – (BUSINESS WIRE) – Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced today that it has completed the previously announced acquisition of Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $ 1.2 billion has been.
Simply Self Storage’s high-quality portfolio covers eight million square meters in the United States. With this acquisition, BREIT becomes the third largest unlisted owner of storage in the USA1
Simpson Thacher & Bartlett LLP acted as legal advisor to BREIT and BofA Securities and Deutsche Bank Securities Inc. served as financial advisor to BREIT. RBC Capital Markets LLC, Newmark Group Inc. and Fried, Frank, Harris, Shriver and Jacobson LLP advised Brookfield.
The transaction was announced on October 26, 2020.
Blackstone Real Estate Income Trust
Blackstone Real Estate Income Trust, Inc. (BROAD) is an institutional-grade perpetual real estate investment platform that offers private real estate to income-oriented investors. BREIT invests in stabilized, income-generating US commercial real estate across major real estate types and, to a lesser extent, in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a world leader in real estate investment. Blackstone’s real estate business was founded in 1991 and has approximately $ 174 billion in investor capital. You can find more information at www.breit.com.
1 Includes private owners and unlisted REITs.