10:57 AM EDT, 04/25/2024 (MT Newswires) -- KKR (KKR) said Thursday it has agreed to acquire a portfolio of 19 student housing properties with over 10,000 beds across 10 states from Blackstone Real Estate Income Trust for about $1.64 billion.

Upon closing of the deal, the portfolio will be managed by its student housing operator, University Partners, the company said. It expects to close the transaction in Q3.

Blackstone Real Estate Income Trust is externally managed by a subsidiary of Blackstone (BX).

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