How Blackstone became a major U.S. landlord

Real Estate Portfolio - Blackstone's real estate division owns at least 274,000 rental housing units, potentially making it one of the largest landlords in the US [1] - The rental housing portfolio is concentrated in Sun Belt regions like Texas, Georgia, and Florida, with a focus on apartments and a smaller portion of single-family homes [1] - The company also invests in mobile home parks and student housing [2] Investment Strategy - Blackstone focuses on job and population growth when making investment decisions, explaining the concentration in the Sun Belt and coastal urban areas [2] - Blackstone is expanding its single-family portfolio through Tricon Residential [2] Market Dynamics - As new housing permits and construction starts decline, market rate rents could increase rapidly [3] - High rental prices are a significant issue in cities like New York [3] - 收购发生在 2024 年 [3]