Apartment Income REIT (AIRC) has issued an announcement.
The Apartment Income REIT Corp. is set to undergo a significant transformation as it enters into a Merger Agreement with a subsidiary of Blackstone Real Estate Partners. Shareholders of the company’s Class A common stock are poised to receive $39.12 per share in cash, while preferred stockholders will be eligible for a redemption payment. Additionally, existing stock options and restricted stock awards will be converted into cash payouts. The operating partnership interests will remain intact post-merger, but amendments will ensure cash redemption options for unit holders. This merger is a pivotal move in the real estate investment landscape, backed by unanimous board approval and not contingent on financing, signaling confidence and a robust strategic direction for the involved entities.
For detailed information about AIRC stock, go to TipRanks’ Stock Analysis page.
