Blackstone Real Estate Income Trust to Acquire Home Partners of America in $ 6 Billion Deal

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Blackstone Real Estate Income Trust Inc., a real estate investment platform operated by the private equity firm Blackstone Group Inc.
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said on Tuesday it was acquiring Home Partners of America in a deal valuing the company at $ 6 billion. The investment will be backed by Blackstone’s permanent capital and will work to provide access to high-quality housing for low-income families, Blackstone said in a statement. Home Partners has a portfolio of more than 17,000 homes across the US, which it purchases on behalf of residents who are not yet ready to buy their home. The company launches its Choice Lease program to address housing affordability issues. “The fundamental premise of the HPA platform is to provide residents with the ability to live in a home of their choice – we intend to develop this goal and expand access to homes throughout the United States,” – Jacob Werner, BREIT The senior managing director said in a statement. The deal is expected to close in the third quarter. Blackstone shares rose 1.1% in the premarket.

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