Blackstone is a major private equity firm that has an ownership interest in over 274,000 rental homes. The BREIT portfolio, a narrow slice of its real estate division, includes substantial numbers of apartments, mobile home parks, student housing and single-family rental homes. The company’s U.S. rental housing portfolio is weighted toward cash flowing properties in the sun belt and coastal cities. The company says its large footprint and expertise in finance can make a positive impact on the housing market as prices keep rising in supply-constrained regions of the U.S..
Produced and Edited by: Carlos Waters Additional Editing by: Andrea Miller Senior Director of Video: Lindsey Jacobson Graphics: Emily Park, Mithra Krishnan Additional footage: Getty Images Additional sources: Academy of Achievement, April Housing, Congress, Corcoran Group, Novogradac, New York Stock Exchange, California Apartments Association, Newman Ferrara LLP, Reuters, Parcl Labs, SeaCure Advisors, Stuyvesant Town Peter Cooper Village Tenants Association, Urban Institute, USA Facts, Zumper
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Do you want to buy a home but don’t know where to begin? Take CNBC’s new online course How to Buy Your First Home. Register today: https://cnb.cx/3STNNhr