BOSTON, MA – Real estate investment trust Apartment Income REIT Corp. (AIR) has sold a portfolio of six apartment communities for $500 million. The assets total 1,314 units in New England.
The sales price represents a trailing 12-month NOI cap rate of 4.4%.
Since the end of 2020, AIR has completed $2.2 billion of property sales and joint-venture transactions. These transaction prices have averaged 17% above the firm's internal estimates of gross asset value as of Q1 2020.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
