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Stock impact report

Blackstone Opts to Sweeten Deal as REITs Upend Usual Playbook [BNN Bloomberg (Canada)]

KKR & Co. Inc. (KKR) 
Last kkr & co. inc. earnings: 1/31 06:50 am Check Earnings Report
US:NYSE Investor Relations: ir.kkr.com
Company Research Source: BNN Bloomberg
First, the firm dangled the option for buyers to take over $800 million in debt that had already been negotiated at low rates. And after bids came in, Blackstone stepped up as a provider of below-market financing, bringing the total package to about $1 billion. KKR & Co. won the deal, agreeing to buy the properties from the $59 billion Blackstone Real Estate Income Trust. The sale was announced in time for a crucial April shareholder call, when President Jon Gray said the premium BREIT got for the dorm sale was among “inconvenient facts for our critics.” The private negotiations, described by five people familiar with the process, underscore how real estate owners are digging deep into their financial toolkits as they look to facilitate sales and command the highest prices they can in today's weary commercial-property market. Across the industry, big asset managers are casting around for financial tactics to grease deals and drum up cash after a rapid rise in interest rates hav Show less Read more
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