Wall Street asset management giant Blackstone Group on Tuesday announced it is buying a firm with a portfolio of 17,000 single-family rental homes in a $6 billion deal that bets big on the red-hot U.S. housing market.
Blackstone, which has over $600 billion in assets under management, said in a release that its real estate investment platform Blackstone Real Estate Income Trust, Inc., had struck a deal to buy Home Partners of America (HPA) and its “high-quality” portfolio of thousands of homes across the United States.
