2024-04-14 15:15:42 ET
Summary
- Multifamily REIT investment outlook was gloomy due to slowing rent growth and oversupply of housing units.
- Blackstone's pending acquisition of Apartment Income REIT (AIRC) sparked renewed interest in apartment investments.
- Blackstone is taking AIRC private at a cash purchase price of $39.12/share, indicating their confidence in the value of the company.
The early 2024 outlook for multifamily REIT investment could not have been gloomier. In its April report , Apartment List describes slowing rent growth as we enter the peak apartment leasing season....
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Blackstone Buys Apartment Income REIT: Value Investors Rejoice