04/13/2024
Do you still think I've not been serious about who is controlling how much you spend in rent. How is this not monopolizing?
These guys are buying up as many homes as they can as well as things like this to control how you live your lives. And how much you have to pay to do so. They are turning everything into rentals which strips the market of homes the average buyer could be buying. And the government is allowing this to happen.
Blackstone Has Agreed to Acquire AIR Communities for $10 Billion All Cash
This is Blackstone’s largest acquisition in the multifamily sphere.
Blackstone has taken a big step in the multifamily space. The giant with more than $1 TRILLION in assets under management is set to acquire Apartment Income Real Estate Investment Trust or AIR Communities.
Blackstone will be paying $39.12 per share and $10 billion in total to acquire AIR. ALL CASH. ( your rental money while you barely scrap by)
The company is also going to invest an additional $400 million to revamp the properties.
About AIR Communities
Blackstone calls AIR Communities the ‘highest quality large scale portfolio’ they have ever acquired.
AIR Communities has assets in 10 states and D.C. concentrated primarily in the coastal regions.
The firm has 76 rental communities with 27,010 homes in total.
(and one could of been the one that you could have bought for your family)
The properties are available at different locations and price points.
They're located in desirable locations like Miami, Los Angeles, Boston, Arizona and Washington D.C.
Details of the Deal
Blackstone will acquire AIR Communities for $39.12 per share.
That is a premium of 25% to the closing share price on NYSE on April 5th.
Also a premium of 25% compared to the volume weighted average share price on NYSE for the previous 30.
The transaction is all cash.
It also includes assumption of debt.
The transaction is set to close by the third quarter of 2024, subject to approval from AIR Communities’ stockholders and other closing conditions. When it goes through, AIR Communities common stock will no longer be listed on NYSE.
In addition to the billions of dollars of property they have in Az they are selling a hotel in the Biltmore area for $705 Million dollars and they are spending 25 billion on building a data center, This is your rent money folks. Call me before you waste more of your hard earned money on rent.
602-390-0504