Blackstone's Home Partners of America is rolling out a $1 billion program in which it will buy rental homes, rent them at a discount to people at a certain income level and then allow them to buy the homes at below market prices.
The program, called Choice Lease, is designed to prevent crowding out of potential home buyers during this competitive home buying market, the company says.
"The lack of housing supply is a national crisis," Kathleen McCarthy, Global Co-Head of Blackstone Real Estate said in prepared remarks. We are proud to support Home Partners' mission of addressing housing access and affordability while also providing underserved populations with a new path to homeownership. Blackstone's scale and long-term capital make a program like this possible."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
