Investor group to sell MDC Holdings; Blackstone to acquire Tricon Residential

Six M&A deals in the North American real estate space were announced or completed during the week of Jan. 15, according to S&P Global Market Intelligence data.

Sekisui House US Holdings LLC and SH Residential Holdings LLC entered into a definitive agreement to acquire MDC Holdings Inc. in an all-cash transaction valued at $4.9 billion from an investor group including BlackRock Inc., Vanguard Group Inc., Dimensional Fund Advisors LP, ARI Capital Partners LLLP, CGM Capital LLLP, Boca Sawyer 22 LLC and M&G Growth LLC. The deal is expected to close in the first half of 2024.

In another deal announced last week, Blackstone Real Estate Income Trust Inc., through its fund Blackstone Real Estate Partners X LP, entered into an arrangement agreement to acquire Canada-based single-family rental homes operator Tricon Residential Inc for a $3.5 billion equity transaction value. The deal is subject to customary closing conditions and is expected to close in the second quarter.