Blackstone to take Apartment Income REIT private in $10 bln deal

Tuesday, April 9, 2024

April 8 (Reuters) - Asset manager Blackstone (BX.N), opens new tab said on Monday it would take private rental housing firm Apartment Income REIT (AIRC.N), opens new tab, known as AIR Communities, for $10 billion in cash, including debt, in what analysts see as a bet on easing pressure within the commercial real estate market.

Under the deal, Blackstone will pay $39.12 for each share of the real estate investment trust, representing a premium of about 25% to its closing price on Friday. Shares of the REIT jumped about 23%.

Read full article here.

Join the Passively InvestED Club

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nullam nec dapibus nisi. Sed fermentum purus ac tempor vulputate.

JT Capital Real Estate © 2024

JT Capital Real Estate © 2024

JT Capital Real Estate © 2024