Blackstone to spend $3.5 billion on buying a real estate company

Tricon Residential Inc (TSE: TCN) opened sharply up on Friday after Blackstone Inc (NYSE: BX) said it will buy the real estate company for about $3.5 billion.Details of Tricon-Blackstone agreementCopy link to sectionThe all-cash agreement values each share of Tricon Residential at $11.25 (C$15.17). Blackstone Real Estate Income Trust and Blackstone Real Estate Partners X have come together for the said deal. Gary Berman – the chief executive of Tricon said in a press release today:We’re proud of significant ...