Equity Residential to buy apartment portfolio from Blackstone for nearly $1 billion

(Reuters) -Equity Residential has agreed to acquire 11 apartment properties from Blackstone for about $964 million, the companies said on Wednesday.

The properties, which are located in Equity Residential’s expansion markets such as Atlanta and Denver, will be purchased in separate deals with Blackstone Real Estate strategies.

In total, 3,572 apartment units make up the portfolio, situated in areas that have higher end renters.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Shailesh Kuber)