Infrastructure giant plans $1.6B SoCal apartment buy

BlackRock has purchased 3,620 apartment units across Southern California for $1.625 billion, making it the region’s largest recent multifamily deal. The acquisition includes properties in Los Angeles County, Orange County, the Inland Empire, and San Diego County, representing a significant portion of local transaction volume. The deal, announced by JLL Capital Markets, is the largest since a $2.1 billion purchase in June 2024 and highlights ongoing investor interest in supply-constrained Southern California housing markets.

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