Apartment Income REIT to be Acquired by Blackstone

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.

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