“The lack of housing supply is a national crisis,” Kathleen McCarthy, global co-head of Blackstone Real Estate, said in a statement.
NEW YORK: Blackstone Inc plans to spend US$1bil (RM4.18bil) to acquire rental houses and lease them out at below-market rates, billing the programme 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 programme, called Choice Lease.
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