The last few years in commercial real estate have been filled with observations of all the dry powder resting on the sidelines, getting ready for action. It looks like some of that capital is getting shaken loose and put into sizable deals. November brought two examples.

Blackstone Real Estate Income Trust sold a portfolio of eight multifamily properties to Brookfield Properties, a subsidiary of Brookfield Asset Management, for $845 million in November, as CoStar reported. The assets comprised 4,143 units. Four of the properties were in Las Vegas, and Nevada; one was in Phoenix, Arizona; two were in Charlotte and Chapel Hill, North Carolina; and one was in Columbus, Ohio.

“This transaction represents a terrific outcome for our investors and demonstrates the strong institutional demand for well-located, quality assets,” a Blackstone spokesperson emailed GlobeSt.com. “Rental housing remains one of our highest-conviction themes, and we continue to see strong fundamentals in attractive markets.”