NEW YORK, Aug. 26, 2022
NEW YORK, Aug. 26, 2022 /PRNewswire/ — Bluerock Residential Development REIT, Inc. (NYSE American: BRG) (the “Firm”) and Blackstone Actual Property (“Blackstone”) right this moment introduced that the completion of the proposed acquisition of the Firm by Blackstone (the “Acquisition”), and the proposed spin-off of the Firm’s single-family rental enterprise to its shareholders (the “Spin-Off”), is anticipated to happen on or about October 6, 2022. The completion of the Acquisition stays topic to the consummation of the Spin-Off, in addition to the satisfaction or waiver of the opposite closing situations within the merger settlement.
About Bluerock Residential Development REIT, Inc.
Bluerock Residential Development REIT, Inc. (NYSE American: BRG) is an actual property funding belief that focuses on creating and buying a diversified portfolio of institutional-quality extremely amenitized reside/work/play house communities in demographically engaging data financial system progress markets to attraction to the renter by alternative. The Firm’s goal is to generate worth by off-market/relationship-based transactions and, on the asset degree, by value-add enhancements to properties and to operations. The Firm has elected to be taxed as an actual property funding belief (REIT) for U.S. federal revenue tax functions.
About Blackstone Actual Property
Blackstone is a worldwide chief in actual property investing. Blackstone’s actual property enterprise was based in 1991 and has US $320 billion of investor capital underneath administration. Blackstone is the biggest proprietor of business actual property globally, proudly owning and working property throughout each main geography and sector, together with logistics, residential, workplace, hospitality and retail. Our opportunistic funds search to amass undermanaged, well-located property the world over. Blackstone’s Core+ enterprise invests in considerably stabilized actual property property globally, by each institutional methods and methods tailor-made for income-focused particular person buyers together with Blackstone Actual Property Revenue Belief, Inc. (BREIT), a U.S. non-listed REIT, and Blackstone’s European yield-oriented technique. Blackstone Actual Property additionally operates one of many main international actual property debt companies, offering complete financing options throughout the capital construction and threat spectrum, together with administration of Blackstone Mortgage Belief (NYSE: BXMT).
Ahead-Trying Statements
This communication comprises forward-looking statements inside the which means of the Personal Securities Litigation Reform Act of 1995 and different federal securities legal guidelines. All statements aside from statements of historic truth are “forward-looking statements” for functions of federal and state securities legal guidelines and could also be recognized by phrases reminiscent of “will,” “anticipate,” “imagine,” “plan,” “anticipate,” “intend,” “purpose,” “future,” “outlook,” “steering,” “goal,” “estimate” and related phrases or expressions, together with the damaging model of such phrases and expressions. These forward-looking statements are based mostly upon the Firm’s current expectations, estimates and projections in regards to the business and markets by which the Firm operates and beliefs of and assumptions made by Firm administration, contain uncertainty that might trigger the precise outcomes, efficiency or achievements of the Firm to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements and aren’t assured to happen. Moreover, the Firm disclaims any obligation to publicly replace or revise any forward-looking assertion to mirror adjustments in underlying assumptions or components, new info, knowledge or strategies, future occasions or different adjustments. Traders shouldn’t place undue reliance upon these forward-looking statements. Though the Firm believes that the expectations mirrored in these forward-looking statements are based mostly on affordable assumptions, the Firm’s precise outcomes and efficiency may differ materially from these set forth in these forward-looking statements on account of quite a few components. Components that might have a cloth antagonistic impact on our operations, future prospects, the Acquisition and the Spin-Off embody, however aren’t restricted to: the incidence of any occasion, change or different circumstance that might give rise to the termination of the merger settlement between the Firm and associates of Blackstone; the failure to fulfill any of the situations to the completion of the Acquisition or the Spin-Off; the dangers that the market doesn’t worth Bluerock Houses Belief, Inc. (“BHM”) shares at web asset worth; the failure to acknowledge the potential advantages of the Spin-Off on account of, amongst different causes, BHM’s lack of liquidity, small market measurement or lack of ability to develop and increase revenues and earnings following the Spin-Off; shareholder litigation in reference to the Acquisition or the Spin-Off, which can have an effect on the timing or incidence of the Acquisition or the Spin-Off or lead to important prices of protection, indemnification and legal responsibility; the impact of the announcement of the Acquisition and the Spin-Off on the power of the Firm to retain and rent key personnel and preserve relationships with its tenants, distributors and others with whom it does enterprise, or on its working outcomes and companies typically; dangers related to the disruption of administration’s consideration from ongoing enterprise operations as a result of Acquisition and the Spin-Off; the power to fulfill expectations relating to the timing and completion of the Acquisition and the Spin-Off; the chance that any opinions, consents or approvals required in reference to the Spin-Off is not going to be acquired or obtained within the anticipated time-frame, on the anticipated phrases or in any respect; and important transaction prices, charges, bills and expenses. There could be no assurance that the Acquisition, the Spin-Off or some other transaction described above will in reality be consummated within the anticipated time-frame, on the anticipated phrases or in any respect. There could be no assurance as to the affect of COVID-19 and different potential future outbreaks of infectious ailments on the Firm’s or BHM’s monetary situation, outcomes of operations, money flows and efficiency and people of their respective tenants in addition to on the financial system and actual property and monetary markets, which can affect the timing or incidence of the Acquisition or the Spin-Off. For additional dialogue of the components that might have an effect on outcomes, please discuss with the danger components set forth in Merchandise 1A of the Firm’s Annual Report on Type 10-Ok filed by the Firm with the SEC on March 11, 2022, its Quarterly Studies on Type 10-Q and different filings by the Firm with the SEC. Any forward-looking assertion speaks solely as of the date on which it’s made, and the Firm assumes no obligation to replace or revise such assertion, whether or not because of new info, future occasions or in any other case, besides as required by relevant regulation. The Firm claims the secure harbor safety for ahead wanting statements contained within the Personal Securities Litigation Reform Act of 1995.
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SOURCE Bluerock Residential Development REIT, Inc.