Blackstone to buy Home Partners of America in $6 billion deal – WSJ

FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid

(Corrects spelling of United in paragraph 2)

(Reuters) -Private equity firm Blackstone Group Inc has agreed to acquire Home Partners of America Inc, which buys and rents single-family homes, in a $6 billion deal, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter.

The deal comes on the heels of a pandemic fueled demand for spacious homes in the United States, as millions of Americans work from home and take classes remotely.

Home Partners owns more than 17,000 houses in the United States, according to the report. It buys, rents out and eventually offers its tenants a chance to buy them. (on.wsj.com/3zJWa45)

Both Blackstone and Home Partners were not immediately available for comment.

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