Real estate is a hot commodity these days, as consumers nationwide find themselves drawn into bidding wars that are pushing the price of limited single-family housing inventory ever higher, reported PYMNTS. Betting that the market will continue on that hallowed hot streak, Blackstone Group announced today (June 22) that it has agreed to buy Home Partners of America, a company that buys distressed single-family homes, restores them and then rents them out again to tenants. The price of that deal will be $6 billion and is expected to close later this year.
And while the Blackstone deal is notable for its size, it is not unique in the high-action real estate segment, which of late is drawing interest from established investors and ambitious entrepreneurs looking to cash in on a hot market. Home may be where the heart is, but it is also increasingly looking like where the opportunity is to widen the field of players.
Blackstone is not new to the real estate market. After the subprime financial crisis, the investment firm became known for buying up distressed single-family homes and renting them out through a firm called Invitation Homes. Blackstone has since phased out of the market and it no longer holds any shares in Invitation Homes, which has become the largest U.S. firm in this industry with 80,000 single-family homes for lease.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Federal Antitrust Trial Explores Potential Impact of Tapestry-Capri Merger
Sep 12, 2024 by
CPI
Australia Targets Big Tech with New Fines for Misinformation
Sep 12, 2024 by
CPI
Mastercard to Acquire Cybersecurity Firm Recorded Future for $2.65 Billion
Sep 12, 2024 by
CPI
Ireland Prime Minister: Apple’s €13 Billion Payment Could Fund Housing and Capital Projects
Sep 12, 2024 by
CPI
Regulators Probe Swisscom’s $8.8 Billion Vodafone Italia Deal
Sep 12, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández