Blackstone to acquire Home Partners for $6 billion
Real Estate

Blackstone to acquire Home Partners for $6 billion

Blackstone Group has agreed to purchase Home Partners of America, which procure and rent single-family homes in a $6 billion deal.

The US housing sector is in great demand, boosted by an economic recovery, ultra-low interest rates, and consistent demand for bigger homes from people working remotely because of the pandemic.

Holding over 17,000 houses in the US, Home Partner rents out to tenants who have an option to buy them eventually.

According to the companies, they expect the deal to be closed by the third quarter.

Co LLC and Goldman Sachs were the financial advisers to Home Partners, while Sidley Austin LLP and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel.

Wells Fargo Securities and BofA Securities were financial advisers to Blackstone, whereas Bartlett LLP and Simpson Thatcher were its legal counsel.

Jacob Werner, Blackstone real estate senior managing director, said that the fundamental basis of the Home Partners platform is to provide tenants with the chance to live in their chosen home with the option to purchase it.

Image Source


Also read: Blackstone buys Embassy Industrial Parks

Also read: Blackstone buys Embassy Industrial Parks from Warburg Pincus

Blackstone Group has agreed to purchase Home Partners of America, which procure and rent single-family homes in a $6 billion deal. The US housing sector is in great demand, boosted by an economic recovery, ultra-low interest rates, and consistent demand for bigger homes from people working remotely because of the pandemic. Holding over 17,000 houses in the US, Home Partner rents out to tenants who have an option to buy them eventually. According to the companies, they expect the deal to be closed by the third quarter. Co LLC and Goldman Sachs were the financial advisers to Home Partners, while Sidley Austin LLP and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel. Wells Fargo Securities and BofA Securities were financial advisers to Blackstone, whereas Bartlett LLP and Simpson Thatcher were its legal counsel. Jacob Werner, Blackstone real estate senior managing director, said that the fundamental basis of the Home Partners platform is to provide tenants with the chance to live in their chosen home with the option to purchase it. Image Source Also read: Blackstone buys Embassy Industrial Parks Also read: Blackstone buys Embassy Industrial Parks from Warburg Pincus

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code