Blackstone to Spend $1 Billion Offering Tenants Reduced Rents
A new program from portfolio company Home Partners of America will discount prices for renters who meet income thresholds
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Blackstone Inc. plans to spend $1 billion to acquire rental houses and lease them out at below-market rates, billing the program as a private-sector answer to soaring housing costs.
Home Partners of America, a single-family rental company that Blackstone bought last year, is offering the program, called Choice Lease. It will provide tenants who meet an income threshold a 10% discount on monthly rent payments and the option to purchase their homes at below-market rates.