Filing Details

Accession Number:
0001193125-22-035599
Form Type:
13G Filing
Publication Date:
2022-02-10 19:00:00
Filed By:
Blackstone Real Estate Income Trust, Inc.
Company:
Tricon Residential Inc.
Filing Date:
2022-02-11
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
BREIT Debt Parent 35,050,536 0 35,050,536 0 35,050,536 11.7%
Blackstone Real Estate Income Trust, Inc 35,050,536 0 35,050,536 0 35,050,536 11.7%
BX REIT Advisors 35,050,536 0 35,050,536 9 35,050,536 11.7%
Blackstone Holdings I 35,050,536 0 35,050,536 0 35,050,536 11.7%
Blackstone Holdings I II GP 35,050,536 0 35,050,536 0 35,050,536 11.7%
Blackstone Inc 35,050,536 0 35,050,536 0 35,050,536 11.7%
Blackstone Group Management 35,050,536 0 35,050,536 0 35,050,536 11.7%
Stephen A. Schwarzman 35,050,536 0 35,050,536 0 35,050,536 7.2 %
Filing

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.     )*

 

 

Tricon Residential Inc.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

89612W102

(CUSIP Number)

December 31, 2021

(Date of Event which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

 

Rule 13d-1(b)

 

 

Rule 13d-1(c)

 

 

Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

   BREIT Debt Parent LLC

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

   11.7% (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

   OO

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

2


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

  Blackstone Real Estate Income Trust, Inc.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  Maryland

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

   11.7% (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

  CO

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

3


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

  BX REIT Advisors L.L.C.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

   11.7% (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

  OO

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

4


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

  Blackstone Holdings I L.P.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

   11.7% (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

   PN

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

5


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

   Blackstone Holdings I/II GP L.L.C.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

   11.7% (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

   OO

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

6


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

  Blackstone Inc.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

   11.7% (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

   CO

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

7


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

   Blackstone Group Management L.L.C.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

   11.7% (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

  OO

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

8


CUSIP No. 89612W102

 

  1    

  NAMES OF REPORTING PERSONS

 

  Stephen A. Schwarzman

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  United States of America

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5     

  SOLE VOTING POWER

 

   35,050,536

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  35,050,536

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

   35,050,536

10  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  7.2 % (1)

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

   IN

 

(1)

Calculations of the Common Shares beneficially owned assume 272,371,621 Common Shares of the Issuer outstanding as of October 12, 2021, as disclosed in the Issuers Form 6-K filed with the SEC on November 9, 2021, and take into account preferred units of Tricon Pipe LLC, exchangeable at any time at the option of BREIT Debt Parent LLC into 28,235,294 Common Shares of the Issuer.

 

9


Item 1(a).

Name of Issuer:

Tricon Residential Inc. (the Issuer)

 

Item 1(b).

Address of Issuers Principal Executive Offices:

7 St. Thomas Street, Suite 801

Toronto, ON M5S 2B7

 

Item 2(a)

Name of Person Filing:

 

Item 2(b).

Address of Principal Business Office

 

Item 2(c).

Citizenship

Each of the following is hereinafter individually referred to as a Reporting Person and collectively as the Reporting Persons. This statement is filed on behalf of:

 

  (i)

BREIT Debt Parent LLC

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (ii)

Blackstone Real Estate Income Trust, Inc.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Maryland

 

  (iii)

BX REIT Advisors L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (iv)

Blackstone Holdings I L.P.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (v)

Blackstone Holdings I/II GP L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (vi)

Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

10


  (vii)

Blackstone Group Management L.L.C.

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: State of Delaware

 

  (viii)

Stephen A. Schwarzman

c/o Blackstone Inc.

345 Park Avenue

New York, NY 10154

Citizenship: United States

 

Item 2(d)

Title of Class of Securities:

Common Shares (Common Shares)

 

Item 2(e)

CUSIP Number:

89612W102

 

Item 3.

If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

Not applicable.

 

Item 4.

Ownership.

Items 5 through 9 and 11 of each of the cover pages to this Schedule 13G are incorporated herein by reference

BREIT Debt Parent LLC owns 6,815,242 Common Shares and 240,000 preferred units of Tricon Pipe LLC convertible into 28,235,294 Common Shares.

BREIT Debt Parent LLC is a subsidiary of Blackstone Real Estate Income Trust, Inc. BX REIT Advisors L.L.C. is the external manager of Blackstone Real Estate Income Trust, Inc. Blackstone Holdings I L.P. is the sole member of BX REIT Advisors L.L.C. Blackstone Holdings I/II GP L.L.C.is the general partner Blackstone Holdings I L.P. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. Blackstone Group Management L.L.C.is the sole holder of the Series II preferred stock of Blackstone Inc. Blackstone Group Management L.L.C.is wholly owned by its senior managing directors and controlled by its founder, Stephen A. Schwarzman.

Each such Reporting Person may be deemed to beneficially own the securities of the Issuer beneficially owned by BREIT Debt Parent LLC, but neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any such Reporting Person (other than BREIT Debt Parent LLC) is the beneficial owner of securities of the Issuer referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the Act), or for any other purpose (including, without limitation, any tax purposes) and each such Reporting Person expressly disclaims beneficial ownership of such securities. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a group for the purposes of Section 13(d) and 13(g) of the Act.

 

Item 5.

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following:  ☐

 

11


Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not applicable.

 

Item 8.

Identification and Classification of Members of the Group.

Not applicable.

 

Item 9.

Notice of Dissolution of Group.

Not applicable.

 

Item 10.

Certification.

Not applicable.

 

12


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

February 11, 2022

 

BREIT DEBT PARENT LLC
By:   /s/ Leon Volchyok
  Name: Leon Volchyok
  Title: Managing Director and Vice President

 

BLACKSTONE REAL ESTATE INCOME TRUST, INC.
By:   /s/ Leon Volchyok
  Name: Leon Volchyok
  Title: Chief Legal Officer and Secretary

 

BX REIT ADVISORS L.L.C.
By:   /s/ Leon Volchyok
  Name: Leon Volchyok
  Title: Managing Director and Chief Legal Officer

 

BLACKSTONE HOLDINGS I L.P.

By: Blackstone Holdings I/II GP L.L.C., its general partner

By:   /s/ Tabea Hsi
  Name: Tabea Hsi
  Title: Senior Managing Director

 

BLACKSTONE HOLDINGS I/II GP L.L.C.
By:   /s/ Tabea Hsi
  Name: Tabea Hsi
  Title: Senior Managing Director

 

BLACKSTONE INC.
By:   /s/ Tabea Hsi
  Name: Tabea Hsi
  Title: Senior Managing Director

BLACKSTONE GROUP MANAGEMENT L.L.C.
By:   /s/ Tabea Hsi
  Name: Tabea Hsi
  Title: Senior Managing Director
  /s/ Stephen A. Schwarzman
  Stephen A. Schwarzman

EXHIBIT LIST

 

Exhibit 99.1    Joint Filing Agreement, dated as of February 11, 2022, by and among the Reporting Persons (filed herewith).