You are here

Blackstone sells 4,600 US flats for US$650m

Sale to Strata Equity comes amid rising demand for rental apartments

Los Angeles

BLACKSTONE Group, the biggest private equity investor in real estate, sold more than 4,600 US apartments to capitalise on strong demand for rental housing as it begins investing a new global property fund.

The price was more than US$650 million, said a person with