Apartment REIT Receives Some Love From Blackstone – Merger Arbitrage Mondays

Apartment Income REIT (AIRC): $38.36

Deal Size: $10 B

I was torn between writing about the drama that is playing out with Paramount Global (PARA), where Shari Redstone and family appear to be getting a sweet deal compared to common shareholders and the large acquisition of an apartment REIT by Blackstone.

Considering the Paramount situation is still under development and investor lawsuits have been threatened but not filed yet, I figured I would briefly discuss the $10 billion acquisition of Apartment Income REIT (AIRC), known as AIR Communities, for $10 billion in cash.

We wrote about the apartment REIT BRT Apartments (BRT) for our latest insider weekends article and I’ve in the past owned shares of both AvalonBay Communities (AVB) and AIMCO (AIV) after writing about those companies during the depths of the Great Recession in February 2009.

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