News & Insights

Cases & Deals

February 16, 2022

Preferred Apartment Communities, Inc. (NYSE: APTS) to be acquired by Blackstone Real Estate Income Trust in an all-cash transaction valued at approximately $5.8 billion

King & Spalding is advising Preferred Apartment Communities, Inc. (NYSE: APTS), a real estate investment trust focused on Class A multifamily properties located in the Sun Belt and select grocery anchored shopping centers, in its $5.8 billion acquisition by Blackstone Real Estate Income Trust, a perpetual-life, institutional quality real estate investment platform.

The press release announcing the transaction can be found here

The King & Spalding deal team is led by Spencer Johnson, Tony Rothermel and John Anderson, and includes Wayne Pressgrove.