Blackstone in US$1.7b deal to buy rental flats: report
Seattle
BLACKSTONE Group LP, the biggest owner of US single-family houses, agreed to buy 36 apartment properties across the country for about US$1.7 billion as it expands its rental business, according to two people with knowledge of the transaction.
The low-rise, garden-style properties are being sold by Praedium Group, a New York-based real estate investment firm, and contain about 11,000 apartments, said the people, who asked not to be identified because the deal is private. About half of the buildings are in California, Washington, DC, and Boston, with the rest located around the US, they said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
UK’s second biggest mortgage lender pulls offers over flood risk
China state firm to sell 20 Shanghai office towers in downturn
Strained Chinese cities struggle to pay home-buying subsidies
Hong Kong’s negative equity mortgage cases rise to 20-year high
UK mortgage approvals rise for sixth month to highest since 2022
URA prepares massive site in Sengkang to house new residential estate