Equity Buys Four DFW Rental Communities

Equity Residential is acquiring 11 apartment communities from Blackstone Real Estate for $964 million. The purchase totals 3,572 apartments, with DFW apartment communities amounting to one-third of that number, or four properties making up 1,237 apartments. Equity bought a 324-unit community in DFW earlier this year.

Alec Brackenridge, Equity Residential’s Executive Vice President and Chief Investment Officer added, “This transaction is a significant step in our goal of generating a higher percentage of our annual net operating income from these strong growth expansion markets. We appreciate partnering with Blackstone on this mutually beneficial transaction and look forward to continuing to grow the relationship.” 

Equity Residential owns or has investments in 299 properties consisting of 79,738 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin.