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Blackstone Said to Plan Invitation Homes IPO for First Half 2017

  • Rally in shares of home-rental companies presents opportunity
  • Landlord is biggest in industry, with about 50,000 houses

Blackstone Group LP expects to take its Invitation Homes unit public in the first half of next year, capitalizing on a rally in U.S. single-family rental landlords to list the biggest company in the industry, according to two people familiar with the matter.

The size and exact timing of an initial public offering haven’t been decided, said the people, who asked not to be named because the process is private. A Blackstone spokeswoman declined to comment. Invitation Homes referred questions to the parent company.