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Blackstone to Purchase Apartment Owner AIR in $10 Billion Deal – Bloomberg


Blackstone Inc. struck a roughly $10 billion deal 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 statementBloomberg Terminal 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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Harry Miller is a writer and editor based in Toronto with 14 years of experience in the journalism industry. Before joining Canada News Media as a National Online Journalist, Miller worked as a senior writer and a reporter-editor with the Canadian Press and as a breaking news reporter with the Toronto Star. At Canada News Media he covers national news and the trending stories Canadians are searching for. Miller holds two bachelor's degrees, one in journalism from Ryerson University and another in communications and film studies from Carleton University.

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