Blackstone Real Estate Completes Privatization of AIR Communities for Approximately $10 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 28 2024
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Source: Newsfilter
- Acquisition Announcement: Blackstone Real Estate Partners X has completed the acquisition of all outstanding common shares of Apartment Income REIT Corp. for $10 billion.
- Financial Advisors and Legal Counsel: Various financial institutions acted as advisors for Blackstone, while Citigroup Global Markets Inc. advised AIR Communities. Legal counsel was provided by different law firms.
- Transaction Date: The acquisition transaction was announced on April 8, 2024.
- About Apartment Income REIT Corp. (AIR Communities): AIR Communities owns 77 communities with 27,385 apartment homes in 10 states and the District of Columbia, focusing on resident satisfaction and property management.
- About Blackstone Real Estate: Blackstone is a global leader in real estate investing with $339 billion of investor capital under management, owning assets across various sectors globally.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
