Blackstone plans factory homes for Aussie retirees
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BLACKSTONE Group LP, the biggest landlord of single-family homes in the US, is entering the factory-built housing market for retirees in Australia to tap an ageing population as traditional home prices soar.
Blackstone agreed to invest A$150 million (S$167 million) in National Lifestyle Villages Pty, which develops manufactured retirement communities, the Perth, Western Australia-based company said in a statement on Tuesday.
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