For more than a decade, Blackstone has poured money into the US residential real estate market. Now the buyout giant has made a significant bet on the country’s booming housing market with a mega-deal for a company that buys and leases single-family homes.
The firm’s real estate arm has agreed to acquire a majority stake in Home Partners of America in a deal that values the company at $6 billion. Based in Chicago, HPA owns over 17,000 homes across the US, offering rent-to-own programs for residents who eventually want to buy a house.
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