Blackstone REIT Inks $6B Deal for Home Partners of America
Blackstone Real Estate Income Trust (BREIT) has agreed to acquire Home Partners of America (HPA), valuing the company at $6 billion. Chicago-based HPA’s portfolio of more than 17,000 single-family homes nationwide provides a rent-to-buy model for prospective homeowners.
BREIT will support the HPA management team as it explores opportunities to expand access to high-quality housing for lower-income households, including the formal introduction of its Choice Lease program. Additionally, BREIT is committed to continuing and expanding the financial planning assistance program offered to all residents, free of charge.
“The fundamental premise of the HPA platform is to provide residents with the opportunity to live in their chosen home with the option to purchase it—we intend to build on that goal and expand access to homes across the U.S.,” said Jacob Werner, Blackstone Real Estate senior managing director. The acquisition is expected to close in the third quarter.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).