Apartment Income REIT to be Acquired by Blackstone

By Tamara Parker • Wednesday, June 26 15:20 • Permanent Link

Apartment Income REIT Corp. (NYSE: AIRC) has announced the approval of its all-cash acquisition by Blackstone Real Estate Partners X by its stockholders at a special meeting held on June 25, 2024. The acquisition will see Blackstone acquiring the outstanding shares of common stock of the company for $39.12 per share, with the completion expected on or about June 28, 2024, subject to the satisfaction or waiver of customary closing conditions.

As of the last reported period, AIR Communities' portfolio comprised 77 communities totaling 27,385 apartment homes located in 10 states and the District of Columbia.

The company is yet to provide the final vote results for the special meeting, which will be certified by the independent inspector of election and filed with the U.S. Securities and Exchange Commission on a current report on Form 8-K.

For additional information, please visit aircommunities.com. Today the company's shares have moved 0.1% to a price of $39.08. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.