Blackstone Sells $964M Apartment Portfolio To Equity Residential
Portfolio Pulse from Lekha Gupta
Blackstone Inc. (NYSE:BX) has sold an apartment portfolio worth $964 million to Equity Residential (NYSE:EQR). The portfolio includes properties in Atlanta, Dallas/Ft. Worth, and Denver. The transaction is expected to close in Q3 2024. Additionally, Blackstone has agreed to a majority investment in Westwood Professional Services, Inc. Investors can gain exposure to BX stock via EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO) and Invesco Global Listed Private Equity ETF (NYSE:PSP).
August 07, 2024 | 4:12 pm
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POSITIVE IMPACT
Blackstone Inc. has sold an apartment portfolio worth $964 million to Equity Residential and agreed to a majority investment in Westwood Professional Services.
The sale of the apartment portfolio and the investment in Westwood Professional Services are positive moves for Blackstone, indicating strong institutional demand and strategic investments in high-growth areas.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Equity Residential will acquire 11 apartment properties from Blackstone for $964 million, enhancing its portfolio in strong growth markets.
The acquisition of the apartment portfolio will help Equity Residential generate a higher percentage of its annual net operating income from strong growth markets, which is a positive development for the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Blackstone stock via EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF.
The ETF provides a way for investors to gain exposure to Blackstone's stock, which is likely to benefit from the recent transactions.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Blackstone stock via Invesco Global Listed Private Equity ETF.
The ETF provides a way for investors to gain exposure to Blackstone's stock, which is likely to benefit from the recent transactions.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50