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Blackstone Real Estate Income Trust is acquiring Resource REIT in an all-cash transaction of $14.75 per share for $3.7 billion, including the assumption of the REIT’s debt.

The deal expands Blackstone’s already formidable presence in the rental markets. Recently, to name one example, its Home Partners of America announced 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.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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