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Equity Residential and Blackstone Real Estate Partner to Acquire $1 Billion Apartment Portfolio

Aug 07, 2024•almost 2 years ago

Contract Type

partnership

ChicagoReal Estate

Description

Equity Residential (NYSE: EQR) has agreed to acquire 11 apartment properties from Blackstone Real Estate for approximately $964 million, which are located in expansion markets of Atlanta, Dallas/Ft. Worth and Denver. The partnership aims to accelerate Equity Residential's growth in these markets and generate a higher percentage of annual net operating income from them.

Company Information

Company

Equity Residential

Location

Chicago, Illinois, United States

About

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters.

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