As of 8:00 a.m. EDT / 3:00 p.m. Türkiye time on September 21, 2026. This brief reviews developments from September 19 through September 21.

Bilateral trade between Türkiye and the United States reached $9.8 billion in the first eight months of 2026, a 7.3% increase compared to the same period in 2025. U.S. exports to Türkiye totaled $5.1 billion, led by aircraft and aircraft parts, machinery, and agricultural products. Turkish exports to the United States totaled $4.7 billion, led by automotive parts, textiles, and chemicals.

The Section 301 tariff investigation initiated in July 2026 covering Turkish exports of steel, aluminum, and certain manufactured goods remains ongoing. USTR has not yet issued a preliminary determination. Turkish exporters in affected categories should monitor the investigation timeline and engage U.S. trade counsel to assess potential exposure.

The U.S.-Türkiye Business Council's annual trade mission to Washington, D.C. is scheduled for October 14-16, 2026, with meetings planned with USTR, Commerce, and Treasury officials. Turkish companies interested in participating should contact the council directly.

Blackstone Real Estate Income Trust completed the acquisition of a portfolio of 12 multifamily residential communities totaling 3,847 units across the Sun Belt markets of Texas, Florida, and Arizona on September 19. The portfolio was acquired from a regional developer for approximately $1.4 billion.

The acquisition reflects continued institutional investor demand for Sun Belt multifamily assets driven by population migration, employment growth, and relative housing affordability compared to coastal markets. For Turkish real estate investors evaluating U.S. multifamily investments, the Blackstone transaction illustrates the scale and pricing of institutional-grade assets in the current market. Individual Turkish investors typically access this asset class through REIT shares, private real estate funds, or direct acquisitions of smaller properties rather than institutional-scale portfolio transactions.

A consortium of KKR, Energy Capital Partners, and DCC plc completed the take-private of a U.S. midstream energy company on September 19. The transaction, valued at approximately $3.2 billion, removes the company from the New York Stock Exchange and combines it with DCC's existing U.S. energy distribution platform.

The transaction structure — a three-party consortium take-private — creates complex governance arrangements among the consortium members. The shareholders' agreement governing the consortium's rights, obligations, and exit mechanisms is the critical document for understanding the long-term ownership structure. Post-closing integration should address the combination of the acquired company's midstream assets with DCC's distribution network and the treatment of existing customer contracts.

The Türkiye–U.S. trade update reflects continued bilateral trade growth despite ongoing Section 301 investigation uncertainty. The Blackstone multifamily and KKR–ECP–DCC transactions reflect institutional capital deployment into Sun Belt real estate and midstream energy respectively.

This publication is for general informational purposes only and does not constitute legal advice.