April 20, 2017
Boston-based TA Realty LLC divested a portfolio of six multifamily properties to Blackstone Real Estate Income Trust for roughly $430 million. The transaction involves more than 2,500 units across four states, including apartment communities in Dallas, Chicago and Orlando metros.
TA Realty’s Tom Landry said, “The price we were able to command for this well-located portfolio of apartment communities reflects the significant value created through strategic operational and capital improvements over the ownership period.”
The transaction was completed on behalf of The Realty Associates Fund IX, L.P. Fund IX, a commingled fund with $1.49 billion in equity capital, is part of TA Realty’s flagship fund series.
TA Realty’s transaction team included Nicole Dutra Grinnell, Michael Haggerty, Jim Raisides and Luke Marchand. JLL represented TA Realty in the deal.
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