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Blackstone Bets $6 Billion on Buying and Renting Homes
Deal for Home Partners of America, owner of over 17,000 houses in U.S., is latest sign Wall Street believes housing market will stay hotBlackstone Group Inc. has agreed to buy a company that buys and rents single-family homes in a $6 billion deal, a sign Wall Street believes the U.S. housing market is going to stay hot.
The investment firm confirmed Tuesday that it has reached a deal to acquire Home Partners of America Inc., which owns more than 17,000 houses throughout the U.S. Home Partners buys homes, rents them out and offers its tenants the chance to eventually buy.
The investment firm’s deal for a company that buys and rents single-family homes is the latest sign Wall Street believes the U.S. housing market is going to stay hot.