Blackstone’s apartment deal has only so much room

Apartment Income REIT

08/04/2024 18:19

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Jonathan Guilford
       NEW YORK, April 8 (Reuters Breakingviews) - A $10 bln
buyout of AIR Communities and its 27,000 US rental units is the
biggest of its ilk in a while. It hews to COO Jon Gray’s plan to
invest before a market recovery. But unlike his firm’s post-2008
spree, deep pockets aren’t enough. The Fed and the economy loom
larger now.
    Full view will be published shortly.
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    CONTEXT NEWS
    Buyout firm Blackstone said on April 8 that it had agreed to
acquire Apartment Income REIT, or AIR Communities, for $10
billion, including debt, in an all-cash transaction. 


   
    

 (Editing by Jeffrey Goldfarb and Sharon Lam)
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