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Blackstone Single-Household Landlord to Halt Residence Purchases in 38 Cities (BX)

Residence Companions of America, the single-family landlord owned by Blackstone Inc., will cease shopping for properties in 38 US cities, changing into the newest institutional investor to again away from an overheated housing market.

The corporate, acquired by Blackstone in June 2021 for $6 billion, informed clients that as of Sept. 1, it’s pausing functions and property submissions in Boise, Idaho; Fresno, California; Memphis, Tennessee, and 25 different areas. The corporate will go on hiatus in 10 further cities on Oct. 1. 

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