A multifamily portfolio consisting of eight properties has been acquired, featuring a total of 4,143 units across multiple markets including Las Vegas, NV; Charlotte & Chapel Hill, NC; Phoenix, AZ; and Columbus, OH. The portfolio has been sold for a transaction price of $845,000,000, translating to a price per unit of $203,958.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $845,000,000
• Buyer: Brian Kingston - Brookfield Properties
• Seller: Stephen A. Schwarzman - Blackstone REIT
• Units: 4,143
• Price Per Unit: $203,958
• Markets: Las Vegas, NV; Charlotte & Chapel Hill, NC; Phoenix, AZ; Columbus, OH

The acquisition process highlights Brian Kingston, representing Brookfield Properties, as the buyer in this significant transaction, while Stephen A. Schwarzman represents Blackstone REIT as the seller. The sale signifies the ongoing institutional interest in quality rental housing, particularly as recovery in apartment rents is anticipated amidst a decline in new housing supply.