Deals
Blackstone Agrees to Buy PS Business Parks for $7.6 Billion
- California-based company owns a variety of property assets
- Deal is latest real estate acquisition by New York firm
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Blackstone Inc. agreed to buy PS Business Parks Inc. for about $7.6 billion, expanding its bets on real estate across the U.S.
Affiliates of Blackstone Real Estate will buy Glendale, California-based PSB for $187.50 a share in cash, according to a statement Monday. The price is roughly a 12% premium to PSB’s closing price on Friday.