Daily News: August 13, 2013

Blackstone Said to Acquire GE Capital R/E for $2.7 Billion

Bloomberg reported, citing a person with knowledge of the deal, the Blackstone Group has agreed to buy 80 U.S. apartment properties from GE Capital for about $2.7 billion.

Bloomberg said the deal represents one of the largest investments by Blackstone in apartments in the U.S., where surging rental demand has sent vacancies to the lowest level in a decade.

To read the full Bloomberg story click here.