Tricon Residential

active

Real Estate — Blackstone

Deal Terms

Entry Year2024

Entry EV$3.5B

Entry Multiple14x

Leverage5x

Debt Amount$1.75B

Risk Metrics

LTV (est.)50%

Debt / EV0.50x

Notes

Blackstone acquiring 38,000-home SFR REIT for $3.5B (2024). Second major Blackstone SFR play after Invitation Homes. Critics say PE landlords drive up rents and reduce housing affordability. Blackstone's housing portfolio now 100,000+ homes.

Sponsor

Blackstone$1270B AUM