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Blackstone Real Estate Income Trust Completes $5.8 Billion Acquisition of Preferred Apartment Communities, Inc.

Blackstone (NYSE:BX) and Preferred Apartments Communities, Inc. (NYSE:APTS) ("PAC" or the "Company") today announced that Blackstone Real Estate Income Trust, Inc. ("BREIT") has completed its previously announced acquisition of PAC for $25.00 per share