Blackstone to Take BioMed Realty Private in $8B Deal
October 09, 2015
Blackstone has agreed to acquire all outstanding shares of common stock of BioMed Realty Trust (NYSE: BMR) for $23.75 per share, an all-cash transaction valued at $8 billion. The price represents a premium of about 24% over the company's closing stock price on September 22, before reports of a potential deal were published. The deal is expected to close in 1Q 2016. BioMed Realty invests in institutional real estate focused on the needs of the life science industry, with interests in properties comprising approximately 18.8 million rentable square feet. Blackstone is investing through its Real Estate Partners VIII fund, which recently closed on $15.8 billion.