Blackstone To Buy 17,000 Single Family Homes from HPA for $6B

Blackstone Real Estate Income Trust has agreed to purchase Home Partners of America (HPA). This is a sure sign of investor confidence in the housing market. Blackstone is currently the largest real estate holding company with a portfolio estimated to be over $350B.

Recently, I’ve seen a surge in hedge funds competing against traditional buyers & investors on houses. About 2% of homes in the national rental market are owned by large companies according to the Wall Street Journal. A bulk of the rental market, about 85%, is owned by companies with 10 or fewer properties.

I’m sure the number of hedge fund owned homes will only increase. What do you think?

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