Blackstone Real Estate Income Trust To Acquire Home Partners Of America In $6B Deal

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Blackstone Real Estate Income Trust Inc., a real estate investing platform managed by a unit of private-equity firm Blackstone Group Inc. , said Tuesday it is acquiring Home Partners of America in a deal valuing the company at $6 billion. The investment will be supported by Blackstone's perpetual capital and it will work to provide access to high-quality housing for lower-income households, Blackstone said in a statement. Home Partners has a portfolio of more than 17,000 homes across the U.S. that it acquires on behalf of residents who are not yet ready to purchase their home.

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