Blackstone to Buy Condominium AIR in $10 Billion Deal – Bloomberg Achi-News

Achi news desk-

Blackstone Inc. secured deal of about $10 billion for an apartment landlord in the latest sign that the real estate investor sees a ripe moment to pour money into the property market.

Blackstone agreed to acquire Apartment Income REIT, known as AIR Communities, in an all-cash deal for $39.12 a share, according to a statement Monday. That’s a 25% premium from the company’s share price of $31.35 at the close of trading on April 5.

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