3 Firms Build Blackstone REIT's $6B Home Rental Co. Buy

Law360 (June 22, 2021, 10:52 AM EDT) -- Blackstone REIT will buy Chicago-headquartered home rental company Home Partners of America in a $6 billion deal built by Simpson Thacher, Sidley Austin and Fried Frank, the companies said Tuesday.

The transaction will see Blackstone Real Estate Income Trust Inc. pick up a business that provides rental services for more than 17,000 homes across the U.S., according to a statement. 

HPA is focused on "making homeownership a reality for more people," according to its website. The company buys and operates single-family rental homes and then offers renters a lease that contains the right to purchase the home in the future. ...

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