Blackstone’s real estate credit business has launched a lending platform for US homebuilders.
The $78bn (€66.4bn) Blackstone Real Estate Debt Strategies (BREDS) expects to help with the construction of 50,000 for-sale homes annually via the new lending platform.
The platform is supported by BREDS portfolio company, Brio Homebuilder Solutions, as well as partnerships with third parties.
The move expands Blackstone’s housing footprint, which already includes portfolio companies Tricon Residential and affordable housing arm April Housing.
Tim Johnson, global head of BREDS, said: “America needs more homes, and we are proud to be part of the solution. Our homebuilder lending platform will help deliver thousands of new homes across the US, directly addressing the critical housing supply gap in communities where people want to live.”
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