Blackstone Inc Stock Price, News & Analysis

Blackstone Mortgage Trust, Inc. (NYSE: BXMT) has launched a public offering of $300 million in convertible senior notes due 2027. The offering includes a 30-day option for underwriters to purchase an additional $45 million. Proceeds will be used for general corporate purposes, including repaying $402.5 million of existing debt and funding new commercial mortgage loans. The notes can be converted under specific circumstances, with the interest rate and conversion terms yet to be determined.

Invenergy Wind Offshore, supported by Invenergy and energyRe, won a significant offshore wind lease in the New York Bight, covering 83,976 acres with a bidding price of $645 million. The lease will be developed by Invenergy, with investment from a consortium including Blackstone Infrastructure Partners (BX), CDPQ, FirstLight Power, and Ullico. This project aims to enhance clean energy production and economic opportunities in the region, contributing to the U.S. offshore wind sector's growth.

Blackstone (NYSE: BX) has launched April Housing, a new portfolio company focused on affordable housing solutions in the U.S. The initiative aims to preserve over 90,000 housing units acquired by Blackstone Real Estate Income Trust (BREIT). With a long-term commitment to affordability, properties will comply with the Low Income Housing Tax Credit program, which ensures rent restrictions for about 20 years. Alice Carr has been appointed as CEO, bringing 25 years of experience in affordable housing.

Blackstone (NYSE: BX) has appointed Sara Clemens, former Chief Operating Officer at Twitch and Pandora, as a Senior Advisor. With over 25 years of experience in high-growth companies, she will focus on Blackstone Growth (BXG), the firm's growth equity investing platform. Vishal Amin, Managing Director at BXG, highlighted her invaluable experience in consumer technology. Clemens expressed enthusiasm for contributing to Blackstone's portfolio of internet companies. Blackstone manages $881 billion in assets across various investment vehicles.

Preferred Apartment Communities (NYSE: APTS) has entered an all-cash agreement with Blackstone Real Estate Income Trust (BREIT) to acquire all outstanding shares for $25.00 each, totaling approximately $5.8 billion. This deal includes 44 multifamily communities and 54 grocery-anchored retail assets primarily in key Sun Belt markets. The transaction, presenting a 39% premium over the recent stock price, aims for completion in Q2 2022, pending stockholder and regulatory approvals. The Board unanimously supports the move, seen as a strong outcome for shareholders.

Blackstone (NYSE: BX) has announced the recapitalization of Mileway, its last mile logistics company, valued at €21 billion, marking the largest private real estate transaction ever. Existing investors will have the option to maintain or increase their holdings or exit for cash as part of a 'go-shop' process. Over the past six years, Mileway has grown to become Europe's largest last mile logistics portfolio with 1,700 assets across 10 countries, demonstrating strong investor confidence in the logistics sector.

Snoop Dogg has successfully acquired the iconic Death Row Records brand from MNRK Music Group, which is backed by Blackstone. The terms of the deal remain undisclosed. Snoop Dogg expressed excitement about reclaiming ownership of the label that played a crucial role in his career, emphasizing its untapped potential. Blackstone's David Kestnbaum highlighted their commitment to supporting artists and creators, expressing confidence in Snoop's ability to lead the brand into a prosperous future. This acquisition marks a significant moment in the music industry, especially as Snoop looks to expand the legacy of Death Row Records.