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

Next Story
Infrastructure Transport

Railways To Add 2,000 Trains, End Waiting Lists

Indian Railways will introduce about 2,000 extra trains a day over the next four years, lifting the daily total to nearly 13,000 services and aiming to provide every traveller with a confirmed berth. According to a senior Railway Ministry official, the enlarged timetable should raise annual passenger capacity from roughly 8 billion to 10 billion and wipe out the 50 million-strong waiting-list that recurs each year.The plan calls for 450 Vande Bharat sets, 200 push-pull formations and a mix of new Mail and Express services. Capacity freed by the Dedicated Freight Corridor, plus continuous track..

Next Story
Infrastructure Transport

Six Ahmedabad Trains Rerouted For 70-Day Station Upgrade

Western Railway will divert six long-distance services from Ahmedabad’s Kalupur station for 70 days while the hub undergoes major redevelopment. From 5 July until 12 September 2025, the following changes will apply:The 12932 Ahmedabad–Mumbai Central AC Double Decker will start from Maninagar at 05.50, the 12655 Ahmedabad–Chennai Navjivan Express will leave Asarva at 21.05, and the 19034 Ahmedabad–Valsad Gujarat Queen will depart Maninagar at 18.20.Arriving trains will also finish elsewhere: the Mumbai Central–Ahmedabad AC Double Decker will terminate at Vatva at 21.20, the Chennai–..

Next Story
Infrastructure Energy

LTTS Wins USD 50 Million Five-Year Sustainability Deal

L&T Technology Services (LTTS), the listed engineering arm of Larsen & Toubro, has secured a five-year framework agreement worth more than USD 50 million to serve as the exclusive global engineering partner for the Sustainability division of one of the world’s leading energy companies.Under the pact LTTS will deliver enterprise data and digital services, encompassing advanced power-management solutions, next-generation cooling, and scalable rack architectures designed to optimise the client’s worldwide network of AI-enabled, low-carbon “energy factories”.Chief Executive and Man..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?