The New York Times, February 16, 2022, Blackstone expands further into rental housing in the United States.
The private equity firm Blackstone, the largest owner of commercial real estate in the world, is expanding its portfolio of rental housing and commercial real estate in the United States.
The firm announced on Wednesday that it would spend roughly $6 billion to acquire Preferred Apartment Communities, a real estate investment trust based in Atlanta that owns 44 multifamily communities and about 12,000 housing units in the Southeast, mostly in Atlanta; Nashville; Charlotte, N.C.; and the Florida cities of Jacksonville, Orlando and Tampa. Preferred also owns several retail and office properties.
