Equity Residential buying 11-property, 3,572-unit Blackstone portfolio across Atlanta, D/FW and Denver for nearly $1B

Equity Residential (EQR) and Blackstone said Wednesday that Equity Residential has agreed to acquire 11 apartment properties from Blackstone Real Estate strategies in separate transactions, including Blackstone Real Estate Income Trust, Blackstone Real Estate Partners and Blackstone Property Partners, for approximately $964 million. The transactions are expected to close later in the third quarter.

Totaling 3,572 units, the properties are located in Equity Residential’s expansion markets of Atlanta, Dallas/Ft. Worth and Denver. The portfolio consists of four properties with 1,357 apartment units in Atlanta, four properties with 1,237 apartments in Dallas/Ft. Worth and three properties with 978 units in Denver.

Blackstone Group (NYSE: BX)
Rich Reyes | Managing Director, MF Real Estate Group

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