Blackstone buys Tricon for $3.5B

[V.G Jason]

Blackstone in it again.

https://www.reuters.com/markets/deals/blackstone-take-tricon...

Jan 19 (Reuters) - Investment management company Blackstone (BX.N), opens new tab has agreed to take Canadian real estate firm Tricon Residential (TCN.TO), opens new tab private for $3.5 billion, the companies said on Friday.U.S.-listed shares of Tricon jumped about 28% at market open, hitting nearly a one-and-a-half-year high.Under the deal, Blackstone will acquire all outstanding shares of Tricon for $11.25 per share in cash, representing a 30.35% premium to the stock's last close.

You cannot tell me that cash flow is the #1 goal in real estate investing. This consolidation is 100% a trait of why this hard asset class is a scarcity play. The parcel of land, the structure, the location is going to be exponentially more valuable over time. Blackstone has been nothing but predatory in Europe for CRE, and are here getting Tricon I believe in a deal of distress. Over time, it'll be harder for mom & pop REI to play in this game. So quality over quantity, keep cash reserves. You will get rattled to sell.