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BX - Blackstone's REIT Shopping Spree Continues With a $5.8 Billion Apartment Deal
The Blackstone Group L.P. Representing Limited Partnership Interests
Blackstone Group (NYSE: BX) has been gobbling up real estate investment trusts (REITs) over the past year. The private-equity giant's latest deal will see it acquire Preferred Apartment Communities (NYSE: APTS) , an apartment REIT focused on fast-growing Sun Belt markets. Blackstone is paying $5.8 billion for the REIT as it continues to spend big to buy apartments across the South.
Here's a look at why Blackstone is pouring so much money into this theme.