Blackstone To Take Rental Housing Owner AIR Communities Private in $10B Deal

Key TakeawaysBlackstone announced Monday it was taking real estate investment trust Apartment Income REIT, known as AIR Communities, private in a $10 billion all-cash acquisition.AIR Communities shareholders will receive $39.12 per share, a nearly 25% premium over the REIT's closing price on Friday.Blackstone said it would be investing more than $400 million to upgrade AIR's communities. Blackstone (BX) said Monday that it was taking Apartment Income REIT (AIRC) private in an all-cash deal worth about $10 b ...