Blackstone buys college campus housing company
In this article:
Yahoo Finance Live examines Blackstone's purchase of American Campus Communities as the investment firm moves to bet on college housing.
Video Transcript
BRAD SMITH: Welcome back, everyone. Blackstone is about to become landlord to thousands of college students across the country. The investment firm agreed to buy student housing owner, American Campus Communities, in a deal valuing the company at $13 billion. American Campus Communities owns 166 buildings in cities and college towns across the US, including properties near Arizona State University and University of California in Berkeley. More students are expected to filter onto campuses this fall. And we'll be tracking this story to see how this new acquisition affects them.
