Blackstone Mtg Tr Inc Stock Price, News & Analysis

Blackstone Mortgage Trust (NYSE: BXMT) has announced its schedule for the release of third quarter 2024 earnings. The company will publish its earnings presentation on www.bxmt.com and file its Form 10-Q pre-market on Wednesday, October 23, 2024. Additionally, BXMT will host a conference call at 9:00 a.m. ET on the same day to review the results. Investors can register for the webcast using the provided link. For those unable to attend the live broadcast, a webcast replay will be available on the company's website approximately two hours after the event.

OYO, a global travel technology company, has agreed to acquire G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million in an all-cash transaction. This acquisition marks a significant milestone for OYO to strengthen its international presence, particularly in the United States. G6 Hospitality's franchise network generates $1.7 billion in gross room revenues, providing a strong fee base and cash flow.

OYO plans to leverage its technology suite, global distribution network, and marketing expertise to further strengthen the Motel 6 and Studio 6 brands. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. Under Blackstone's ownership, G6 Hospitality transformed into a leading asset-light lodging company with a franchise network of ~1500 hotels across the US and Canada.

Equity Residential (NYSE: EQR) has agreed to acquire 11 apartment properties from Blackstone Real Estate strategies for approximately $964 million. The portfolio consists of 3,572 apartment units located in Atlanta, Dallas/Ft. Worth, and Denver. These properties, averaging eight years old, align with Equity Residential's expansion strategy in high-growth markets.

The transaction is expected to close in the third quarter of 2024, subject to customary conditions. Equity Residential aims to leverage its operating platform to unlock additional value from these properties. The company reaffirmed its earnings guidance provided in the Second Quarter 2024 Earnings Release.

This acquisition marks a significant step towards Equity Residential's goal of increasing its net operating income from these expansion markets. The deal also highlights the strong institutional demand for high-quality rental housing assets in attractive markets.

Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until August 2, 2024. The offer of Ps.40.50 per certificate for up to 100% of outstanding certificates represents a 27% premium over the December 4, 2023 price and a 10% premium to the June 7, 2024 closing price. The offer requires acceptance by holders of at least 50% plus one of outstanding certificates.

Key points:

• Offer extended to August 2, 2024, at 14:00 Mexico City time
• Expected settlement date: August 9, 2024
• COFECE has unconditionally approved the tender offer
• No financing condition or additional approvals required

Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until July 31, 2024. The offer of Ps.40.50 per certificate represents a 27% premium over the unaffected price on December 4, 2023, and a 10% premium to the closing price on June 7, 2024. The offer requires acceptance by holders of at least 50% plus one of outstanding certificates. COFECE has unconditionally approved the tender offer, which is not subject to financing conditions or additional approvals. The settlement date is expected to be August 7, 2024, unless extended. Blackstone Real Estate, with a track record of over 50 successful public company transactions, aims to provide immediate value to Terrafina's shareholders while avoiding potential tax consequences associated with competing exchange offers.

Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until July 29, 2024. The offer of Ps.40.50 per certificate represents a 27% premium over the unaffected price on December 4, 2023, and a 10% premium to the closing price on June 7, 2024. The offer requires acceptance by holders of at least 50% plus one of outstanding certificates. COFECE has unconditionally approved the tender offer, which is not subject to financing conditions or additional approvals. The expected settlement date is August 5, 2024, unless extended.

Blackstone Real Estate and MRP Group have extended their all-cash tender offer for Terrafina (BMV:TERRA 13) until July 25, 2024. The offer of Ps.40.50 per certificate for up to 100% of outstanding certificates represents a 27% premium over the unaffected price on December 4, 2023, and a 10% premium to the closing price on June 7, 2024.

The offer requires acceptance by holders of at least 50% plus one of outstanding certificates. The Mexican antitrust authority (COFECE) has unconditionally approved the tender offer, which is not subject to financing conditions or additional approvals. The expected settlement date is August 1, 2024, unless extended.

Blackstone Mortgage Trust (NYSE: BXMT) reported its Q2 2024 results, revealing a net loss of $61 million. Key financial metrics include:

- EPS: ($0.35)
- Distributable EPS: $0.49
- Distributable EPS prior to charge-offs: $0.56
- Dividends paid per basic share: $0.62

BXMT declared a Q3 2024 dividend of $0.47 per share, payable on October 15, 2024. The Board also authorized a $150 million share repurchase program. CEO Katie Keenan emphasized the company's strong liquidity, accelerating repayments, and emerging investment pipeline, positioning BXMT for accretive capital deployment in the current environment.

Blackstone Real Estate Partners X has finalized the privatization of Apartment Income REIT Corp. (AIRC) in a transaction valued at approximately $10 billion, including debt assumption. Shareholders of AIRC received $39.12 per share in cash. Financial advisors for Blackstone included BofA Securities, Barclays, BMO Capital Markets, Deutsche Bank Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley, SG Americas Securities, and Wells Fargo, with Simpson Thacher & Bartlett LLP as legal counsel. Citigroup Global Markets advised AIRC, with Skadden, Arps, Slate, Meagher & Flom LLP serving as legal counsel. The transaction was first announced on April 8, 2024.