Equity Residential To Acquire 11 Apartment Properties From Blackstone For $964M; Transactions Expected To Close In Q3 2024, Subject To Customary Closing Conditions
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Equity Residential is set to acquire 11 apartment properties from Blackstone for $964 million. The transactions are expected to close in Q3 2024, subject to customary closing conditions.
August 07, 2024 | 1:05 pm
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NEUTRAL IMPACT
Blackstone is selling 11 apartment properties to Equity Residential for $964 million. The transactions are expected to close in Q3 2024, subject to customary closing conditions.
The sale of 11 apartment properties will provide Blackstone with significant liquidity, but the impact on its stock price is expected to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Equity Residential is acquiring 11 apartment properties from Blackstone for $964 million. This acquisition is expected to close in Q3 2024, subject to customary closing conditions.
The acquisition of 11 apartment properties will likely enhance Equity Residential's asset portfolio and revenue streams, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100