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M&A Deal Summary

The Blackstone Group Acquires AIR Communities

On April 8, 2024, private equity firm The Blackstone Group acquired real estate company AIR Communities for 10.0B USD

Acquisition Highlights
  • This is The Blackstone Group’s 11th transaction in the Real Estate sector.
  • This is The Blackstone Group’s 17th largest (disclosed) transaction.
  • This is The Blackstone Group’s 208th transaction in the United States.
  • This is The Blackstone Group’s 8th transaction in Colorado.

M&A Deal Summary
Date 2024-04-08
Target AIR Communities
Sector Real Estate
Buyer(s) The Blackstone Group
Deal Type Going Private
Deal Value 10.0B USD
Advisor(s) Citi (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

AIR Communities

Denver, Colorado, United States
AIR Communities is a real estate company with a portfolio of 76 communities totaling 27,010 apartment homes located in 10 states and the District of Columbia. AIR offers a predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management. AIR Communities is based in Denver, Colorado.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 330 of 362
Sector: Real Estate M&A 11 of 12
Type: Going Private M&A Deals 37 of 41
State: Colorado M&A 8 of 8
Country: United States M&A 208 of 230
Year: 2024 M&A 4 of 20
Size (of disclosed) 17 of 183
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-08 Buyers Edge Platform

Waltham, Massachusetts, United States

Buyers Edge Platform is a provider of procurement software, group purchasing, and data analytics to the food service industry. Buyers Edge Platform was founded in 2018 and is based in Waltham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-22 Geo-Young

Seoul, South Korea

Geo-Young is a wholesale distributor of pharmaceutical drug products in Korea. Geo-Young serves more than 250 multi-national and domestic pharmaceutical and medical device companies, distributing to more than 11,000 pharmacies, hospitals, and clinics through its nationwide logistics network. Geo-Young was founded in 2002 and is based in Seoul, South Korea.

Sell -
Mergr

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