Alzette Investment SARL, an affiliate of private equity giant Blackstone Group LP, is offering to completely buy out Hispania Activos Inmobiliarios.

Alzette will launch an offer to acquire the 2,283,182 remaining shares of Hispania it does not own Dec. 21. The investor already holds 106,886,360 shares in the diversified real estate investment trust, translating to 97.91% of its outstanding share capital.

Hispania's board of directors will call an extraordinary shareholders' meeting at the end of January 2019 to solicit approval to delist its shares, effective April 1, 2019.