Blackstone Inc. has resumed discussions to acquire H&R Real Estate Investment Trust. These talks follow unsuccessful negotiations last year that involved several investment firms. H&R REIT is currently divesting office and retail properties to focus on residential and industrial assets.
H&R REIT shares rose more than 8% following the report. This price movement increased the company's market capitalization to approximately $2.2 billion. The firm managed roughly $5.8 billion in assets as of March 31.
No final agreement has been reached between the parties. The renewed interest highlights growing merger and acquisition momentum within the North American real estate sector.