“The acquisition is Blackstone’s largest transaction in the multifamily market.”

Blackstone favors rental housing as one of the hottest places in the commercial property market to invest. The acquisition of AIR will give the investment manager exposure to 76 rental housing communities in coastal markets, including Boston, Miami, and Los Angeles.

https://www.zerohedge.com/markets/blackstone-makes-10-billion-bet-multifamily-units-real-rents-begin-re-accelerating