Articles from Blackstone Real Estate Income Trust, Inc.

Blackstone Real Estate Income Trust, Inc. (“BREIT”) today announced that current Chief Operating Officer, Wesley LePatner, will become BREIT’s Chief Executive Officer as of January 1, 2025. She will succeed Frank Cohen, who, after nearly thirty years, plans to retire from Blackstone at year-end. Mr. Cohen will remain Chairman of BREIT’s Board of Directors.

Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced that an affiliate has completed its acquisition of WPT Industrial Real Estate Investment Trust (TSX: WIR.U; WIR.UN) (OTCQX: WPTIF) (“WPT”) in a series of transactions that resulted in unitholders receiving US$22.00 per outstanding unit of WPT (collectively, “Units”) (subject to applicable withholdings) in an all-cash transaction valued at US$3.2 billion, including the assumption of debt (the “Transaction”). The Units will be delisted from the Toronto Stock Exchange at the close of business today and WPT will apply to cease to be a reporting issuer under applicable Canadian securities law.

Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced today that it has entered into a definitive agreement to acquire Home Partners of America (“HPA”), valuing the company at $6.0 billion. HPA’s unique, resident-led business model expands housing access and choice, while providing a clear path to homeownership to individuals and families across the United States. BREIT’s investment in HPA will be supported by its perpetual capital, enabling a truly long-term approach to the management of the properties. Furthermore, Blackstone’s substantial experience with rental residential properties and commitment to acting responsibly to support residents will bring valuable perspective and best-in-class operating standards to the ownership and maintenance of these homes.