The Firm is representing Blackstone in connection with the acquisition of Alexander & Baldwin, Inc. by a joint venture formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest in an all-cash transaction with an enterprise value of approximately $2.3 billion. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
Alexander & Baldwin is the only publicly-traded real estate investment trust to focus exclusively on Hawai‘i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 4.0 million square feet of commercial space in Hawai‘i, including 21 retail centers, 14 industrial assets, and four office properties, as well as 146 acres of ground lease assets.
The Simpson Thacher team includes Brian Stadler, Matt Rogers, Erica Egenes, Wang Chen, Eric Zilber, Jordan Czelen and Andres Cruz (M&A); Sasan Mehrara, Whitney Salinas, Danielle Jackson, Cristiana Modesti, John Collins, Isabelle McAlevey, Joshua Schub, Philip Titcomb and Yael Golan (Real Estate); Nancy Mehlman, Ed Grais and Jiha Min (Tax); Andrew Blau, Jana Hymowitz, Daniella Villatoro and Katherine Howard (Executive Compensation); and Caroline Geiger and Margerite Blase (Intellectual Property).