TA Realty team members involved in the transactions include partners Nicole Dutra Grinnell, Michael Haggerty and Jim Raisides along with dispositions officer Luke Marchand. JLL represented ownership in transaction negotiations.

As Blackstone has been a buyer in the US apartment sector, it's been a seller recently in Europe, albeit in student housing rather than multifamily. The asset management giant earlier this month sold the Union State portfolio, comprised mainly of UK properties, to Canada-based Liberty Living for £460 million (US$588.2 million).

BOSTON—TA Realty LLC is continuing to wind down investments in its Realty Associates Fund IX, selling a six-property, 2514-unit apartment portfolio to Blackstone Real Estate Income Trust. The $430-million sale follows TA's $845.5-million sale of industrial and office properties to Brookfield earlier this month, also on behalf of Fund IX.

“We believe the outcome of this transaction represents compelling value for Fund IX investors,” says Tom Landry, managing partner at Boston-based TA Realty. “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 seller didn't identify the properties included in the sale to Blackstone, beyond noting that they're located across four states in high-barrier-to-entry markets, including the Dallas, Chicago and Orlando metro areas. However, published reports say that TA's 55 West, a 33-story residential tower in downtown Orlando, traded to Blackstone last week for $105 million, or $227,765 per unit.

CoStar Group on Wednesday identified four other apartment properties currently under Fund IX's ownership. They include the Preserve at Osprey in the Chicago suburb of Gurnee, IL; San Merano at Mirasol, Palm Beach Gardens, FL; Mason Park in Katy, TX, near Houston; and West End at City Center in Lenexa, KS.

TA Realty team members involved in the transactions include partners Nicole Dutra Grinnell, Michael Haggerty and Jim Raisides along with dispositions officer Luke Marchand. JLL represented ownership in transaction negotiations.

As Blackstone has been a buyer in the US apartment sector, it's been a seller recently in Europe, albeit in student housing rather than multifamily. The asset management giant earlier this month sold the Union State portfolio, comprised mainly of UK properties, to Canada-based Liberty Living for £460 million (US$588.2 million).