Updated: TA Realty Continues Cashing Out Real Estate Fund; Sells Multifamily Portfolio to Blackstone REIT for $430 Million
April 19, 2017 | by Mark Heschmeyer | CoStar
In its second large property disposition this spring, TA Realty LLC sold a six-property, 2,514-unit multifamily portfolio to Blackstone Real Estate Income Trust for $430 million.
TA Realty sold the portfolio on behalf of The Realty Associates Fund IX LP. Earlier this month, TA Realty sold a 45-property industrial and office portfolio from the fund to Brookfield-managed real estate funds for $854.5 million.
Realty Associates Fund IX was formed in 2007 and has hit a 10-year investment cycle.
