The Firm is representing Blackstone Real Estate Income Trust in connection with its acquisition of Preferred Apartment Communities, Inc. in an all-cash transaction valued at approximately $5.8 billion. The transaction is expected to close in the second quarter of 2022, subject to stockholder approval and other customary closing conditions.~~Preferred Apartment Communities is a real estate investment trust engaged primarily in the ownership and operation of Class A multi-family properties, with select investments in grocery anchored shopping centers. As of September 30, 2021, the Company owned or was invested in 107 properties in 13 states, predominantly in the Southeast region of the United States.~~The Firm has represented Blackstone in six multi-billion dollar take private transactions during the past eleven months.~~The Simpson Thacher team includes Brian Stadler, Matt Rogers, Keegan Lopez and James Crisp (M&A); Erik Quarfordt, Rachel Stein, Taylor Hatch, Kristen Lucas, Joe DeQuinzio, Katie Dunn and Zev Rosenberg (Real Estate); Nancy Mehlman and Eli Shalam (Tax); Andrew Blau, Linda Barrett and Allison Sutherland (Executive Compensation and Employee Benefits); and Melanie Jolson (Intellectual Property).