 |
Longacre Square Partners works the media for Preferred Apartment Communities as it inks a $5.8B all-cash deal to be acquired by Blackstone Real Estate Income Trust.
PAC owns about 12K rental units in 44 communities in the Atlanta, Orlando, Tampa and Jacksonville markets and 54 shopping centers in the Atlanta, Orlando, Raleigh and Nashville areas.
Jacob Werner, co-head of Americas acquisitions for Blackstone, said his firm was attracted to PAC’s “high-quality multifamily assets in key Sun Belt markets” and grocery-anchored retail group that is a “strong and resilient” performer.
Blackstone’s $25 per share offer represents a 39 percent premium over the Feb. 9 closing price of PAC stock, which was before news hit that it was exploring strategic options.
Longacre’s Dan Zacchei and Joe Germani represent PAC.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Have a comment? Send it to 
No comments have been submitted for this story yet.