Upfront consideration will be paid primarily in stock.
Additional consideration may be paid based on ElmTree’s performance over the next five years.
Financial details were not disclosed.
Upon closing, ElmTree will be integrated into Private Financing Solutions, a new platform created through BlackRock’s combination with HPS Investment Partners.
This platform is part of BlackRock.
The transaction is expected to close in the third quarter of 2025, according to BlackRock, Inc. (BLK).
The closing timeline remains set for that period.
Scott Kapnick, Chairman of PFS Executive Office and CEO of HPS, stated that structural shifts in the real estate sector are creating new opportunities for private capital.
The combination of a premier triple-net investor with their leading private financing solutions platform will position them to capture these opportunities for clients.
