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Re: Enterprising Investor post# 167

Friday, 08/26/2022 4:54:21 PM

Friday, August 26, 2022 4:54:21 PM

Post# of 174
Bluerock Residential Growth REIT and Blackstone Real Estate Announce Anticipated Closing Date of Acquisition and Spin-Off (8/26/22)

NEW YORK, Aug. 26, 2022 /PRNewswire/ -- Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) (the "Company") and Blackstone Real Estate ("Blackstone") today announced that the completion of the proposed acquisition of the Company by Blackstone (the "Acquisition"), and the proposed spin-off of the Company's single-family rental business to its shareholders (the "Spin-Off"), is expected to occur on or about October 6, 2022. The completion of the Acquisition remains subject to the consummation of the Spin-Off, as well as the satisfaction or waiver of the other closing conditions in the merger agreement.

About Bluerock Residential Growth REIT, Inc.

Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through value-add improvements to properties and to operations. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.

About Blackstone Real Estate

Blackstone is a global leader in real estate investing. Blackstone's real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone's Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S. non-listed REIT, and Blackstone's European yield-oriented strategy. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

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