Blackstone AIR Communities

Anyone underwrite this and have an idea what Blackstone paid on a Yr 1 yield basis? Green Street says 5.2 but hearing it was more like upper 5s

108 WSO Academy Real Estate Session Reviews: 4.91/5

Class of '29 Sep 2026 Cohort

5.00/5

Real Estate Career Roadmap (optional)

“Nick was extremely informative and gave me a lot of solid and practical advice. He answered all of my questions clearly and thoughtfully. I really appreciated that he gave me an actionable plan for how to approach recruiting and developing my career in general. He was very open about sharing his own experiences. He also gave me helpful perspective on how to differentiate myself during the recruiting process and make my conversations with professionals more meaningful. I feel like I have a clearer understanding of what I should focus on and concrete next steps. This was overall a helpful and valuable conversation. ”

Class of '28 Aug 2026 Cohort

5.00/5

Real Estate Mock Interview

“Nick was fantastic. He didn’t just glance at my resume and give me generic advice—he explained exactly why it wasn’t telling the story I wanted it to tell, then helped me figure out how to fix it. He pushed me to be more intentional about how I talk about my experience and gave me concrete steps to prepare for interviews, from tailoring my resume to practicing financial modeling. I also appreciated how candid he was. When I asked about real estate capital markets versus sales and trading, he gave me his honest opinion while being clear about his own perspective. He shared interview guides, answered all my questions, and offered to do a more detailed mock interview if I move forward with JLL. I left with a lot of work to do, but also a much clearer idea of how to do it. I’d absolutely recommend talking with Nick.”

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2 Comments

Nada loan

RS

2y

Not sure about yield, but based on public info:

- AIR owned 27,010 units, spread across 76 properties
- BX paid $10B or $370,233 per unit
- BX plans to invest $400M or $14,809 per unit in rehab

In my personal opinion, $370K per unit is a premium for class a multifamily, in addition to investing $14K a unit in rehab. BX must be extremely bullish on outlook ahead for class a rental housing.

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Count_Chocula

RE

2y

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Authored by: Certified Real Estate Professional - Vice PresidentCertified Real Estate Pro

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Blackstone AIR Communities

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Blackstone AIR Communities

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