RTR: Blackstone to take Apartment Income REIT private in $10bn deal

The businessman holds out his hand to make a deal. Concept of a contract or deal, making an offer. Signing or renewing a contract. Come to universal consensus. Diplomatic and political success.

By LoadstarEditorial

09/04/2024

REUTERS reports:

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%…

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