The Clap
The world’s biggest alternative investment manager Blackstone (NYSE: BX) is set to acquire student housing company American Campus Communities (NYSE: ACC).
Claps Class
Alternative investments are non-traditional assets like artwork, jewelry, & real estate. Traditional assets are equity, bonds, & currency.
The deets
Blackstone offered a 14% premium on ACC’s last closing price. The $65.47/share offer values ACC, which owns 166 properties across 71 universities, at $12.8 billion.
What this means
ACC will go private through Blackstone Real Estate Income Trust, a company that brings private real estate to income-focused investors.
