2024-01-24 14:59:48 ET
Summary
- Tricon Residential has agreed to be taken private by Blackstone for $3.5 billion, representing a 30% premium to its previous closing price.
- The single-family rental REIT sector has faced challenges due to higher mortgage rates, but the demand for rental homes has remained strong.
- Blackstone's financial strength and access to capital are expected to benefit Tricon and drive its growth after the merger.
The Transaction
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For further details see:
Tricon Residential: Blackstone's Accretive Acquisition