Blackstone (BX) has agreed to buy Apartment Income REIT (AIRC), known as AIR Communities, for about $10B, or $39.12 a share in an all-cash transaction, The Wall Street Journal’s Craig Karmin reports. The acquisition is Blackstone’s largest transaction in the multifamily market. Blackstone is acquiring the firm through its $30.4B global real-estate fund, according to the report.
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