Blackstone has agreed to pay $39.12 per share to acquire Apartment Income REIT Corp. and its 27,000-unit portfolio.
Columbia Property Trust, now owned by Pimco, purchased the Market Square complex in 2011 for a record per-square-foot price.
The firm made big investments in multifamily in Q1 and committed another $15B to pending deals.
The portfolio consists of 48 properties totaling 3M SF of industrial real estate in Southern California.
Blackstone is buying an £800M ($1B) portfolio of performing loans from Deutsche Pfandbriefbank.
Town Lane, from a former Blackstone executive, could raise one of the largest sums on record for a first-time property fund.
The firm, headed by Blackstone veteran Tyler Henritze, raised the funds less than six months after its founding.
The property is entitled for redevelopment of up to 1M SF of industrial space.
The consolidation of some 200 properties would make Blackstone one of the largest industrial landlords in the UK.
The smoothie eatery opened more than 175 locations in the U.S. in 2023.
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