Blackstone Inc. acquires Apartment Income REIT (AIR Communities) for $10bn in an all-cash deal.
Blackstone Inc. has agreed to acquire Apartment Income REIT (AIR Communities) for approximately $10bn in an all-cash deal, representing a 25% premium on the company's share price. The deal marks Blackstone's latest investment in the property market, following its $3.5bn agreement to take single-family landlord Tricon private earlier this year. Blackstone Real Estate Partners X, which raised over $30bn, will purchase AIR Communities' shares.
April 08, 2024
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