Blackstone buys San Diego apartment complexes in $1B deal

Blackstone Group is planning to buy about 5,800 apartment units in San Diego for more than $1 billion. The New York-based private equity and investment firm has agreed to purchase 66 complexes across the city from the Conrad Prebys Foundation, according to the San Diego Union-Tribune. It also plans to make $100 million in improvements to the properties. With the deal, Blackstone will own 6,700 units in the Southern California city. It already owns $4.5