Equity Residential is acquiring 11 apartment communities from Blackstone Real Estate for $964 million. The purchase of the properties, which total 3,572 apartments, will close later this year.
The properties will be purchased in separate transactions from Blackstone Real Estate entities, including Blackstone Real Estate Income Trust, Blackstone Real Estate Partners and Blackstone Property Partners. All of the transactions are expected to close in the third quarter.
Source: Equity Residential to Purchase Blackstone Portfolio for $964M – Multi-Housing News