PSB - Blackstone Continues Its REIT Buying Binge With $7.6 Billion PS Business Park Purchase
Blackstone Group (NYSE: BX) is back in the headlines again this week with another multi-billion-dollar purchase of a real estate investment trust (REIT). This time it's buying PS Business Parks (NYSE: PSB) for $7.6 billion. The deal will add a large-scale portfolio of business park, office, and industrial assets to Blackstone's burgeoning real estate portfolio.
With billions of dollars in dry powder across its real estate private equity funds and cash continuing to pour into its funds , Blackstone will likely continue its real estate shopping spree.
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Blackstone Continues Its REIT Buying Binge With $7.6 Billion PS Business Park Purchase