Blackstone Group has agreed to acquire Dream Global Real Estate Investment Trust (TSX: DRG.UN), a Toronto-based owner and operator of office and industrial properties in Europe. Unit-holders of Dream Global will receive $16.79 per unit in an all-cash transaction valued at $6.2 billion. The deal is expected to close in December. Established in 1996 by Chair and CEO Michael Cooper, Dream Global has a portfolio of more than 200 properties located in over 100 Western European cities. The company, publicly traded since 2011, is primarily focused on real estate opportunities in Germany and the Netherlands. Blackstone, a U.S. alternative investment firm, is making the acquisition through its real estate private equity funds.
↧