Blackstone Snaps Up $2.7B Apartment Portfolio From GE

Law360, New York (August 12, 2013, 6:14 PM EDT) -- Private equity giant Blackstone Group LP has agreed to purchase a portfolio of 80 apartment complexes in Texas and across the Southeast worth about $2.7 billion from General Electric Co.'s financing division, a person with knowledge of the deal told Law360 on Monday.

The apartment complexes are located in Atlanta, Dallas and several other metro areas in the Southeast and hold about 30,000 apartment units in total, the person said.

Specific financial terms of the deal were not immediately available, but Blackstone typically provides about a...
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