From Dow Jones & Company:

Blackstone Inc. has announced plans to take Canadian real-estate company, Tricon Residential Inc., private in a $3.5 billion deal, resulting in a 28% jump in Tricon’s stock. Blackstone’s real-estate fund and Blackstone Real Estate Income Trust Inc. will buy all outstanding shares for $11.25 in cash, a 30% premium over Tricon’s Thursday closing price. Tricon has plans to invest $4.5 billion in construction projects, including 2,500 new houses in the U.S. and land-development projects for 21,000 single-family homes. Blackstone aims to support Tricon’s efforts to add housing supply in the U.S. and Toronto.



Read more: Tricon’s stock rallies 28% on $3.5 billion buyout deal by Blackstone