Exceptionally High Standards for Our Residents

Invested to create and improve our residential properties globally since 2014

$17B+

Owner and expected preserver of affordable housing in the US [ 1 ]

#1

Global pensioners who benefit from our investment results

100M+

Focusing on Resident Experience

Preserving Affordable Housing

Zero Evictions for Non-Payment Across US Housing Portfolio for 2+ Years

In the News

April 3, 2025

Tricon Residential Opens Two New Communities in Texas, Expanding Housing Supply

February 14, 2025

CoStar: Blackstone’s Tricon hits milestone in helping people through challenging times

February 14, 2025

Commercial Observer: April Housing Expands Resyndication Program

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  • Blackstone is addressing the nation’s housing shortage by adding permanent housing supply through Tricon’s development platform. This scalable solution brings housing to families at a more affordable cost than homeownership.

    ~58k

    Single-family rental homes and home sites delivered / being developed

    50%

    More expensive to own than rent

    $1B

    Pipeline of new single-family homes in the US

    $1B

    Additional capital projects to improve quality of existing homes

  • April Housing provides affordable housing solutions to create great resident experiences. A key pillar of April’s mission is to preserve the affordability of their existing portfolio.

    #1

    Owner and expected preserver of affordable LIHTC housing in the US [ 5 ]

    1,500

    Affordable housing units preserved in 2024

    80%+

    Share of units serving residents who earn less than 60% of area median income

    $500M+

    Committed to improving and maintaining asset quality

    We have completely transformed StuyTown by preserving 5,000 units as affordable housing and investing $425M+ in improvements across the property.

    9,600+

    Solar panels installed

    ~65%

    Reduction in average work order completion time since 2015

    #2

    Largest park setting in Manhattan

  • We have placed an extraordinary focus on property management and the resident experience for working families in apartments across San Diego.
     
    In accordance with California’s rent stabilization law, AB 1482, we provide residents with transparency around rent increases.

    64k+

    Repairs completed since acquisition in August 2021 [ 6 ]

    $130M+

    Invested and committed to improve properties [ 7 ]

    +35%

    Increase in resident satisfaction [ 8 ]

  • In 2022, we made a $12.8 billion strategic acquisition of American Campus Communities, the largest US student housing owner / operator. American Campus Communities delivered six unique on-campus student housing communities with over 3,800 beds in 2024. [ 9 ]

    141

    Properties

    $334M

    Invested to contribute to new, high-quality student housing supply [ 10 ]

    0.16mi

    Average distance to campus [ 11 ]

Portfolio Spotlights

April Housing

April Housing is a leading provider of solutions and capital for the creation and preservation of high-quality affordable housing throughout the United States.

Sage Homes

Created in 2017 by Blackstone and Regis, Sage Homes is the largest provider of newly built affordable homes in England and has been for four years running contributing to much needed supply. [ 12 ] Blackstone has committed over £3.7 billion in Sage to help deliver over 19,000 new affordable homes, with 3,000 more in the pipeline. [ 13 ]

StuyTown

At StuyTown in New York City, we voluntarily preserved 5,000 units as affordable housing while investing more than $425 million into the property.

American Campus Communities

American Campus Communities is the largest owner of student housing in the United States. Their communities are purpose-built to provide the environment, amenities and resources students need to succeed, both academically and personally.

Tricon

Tricon is committed to developing new housing, including a $1 billion pipeline of new single-family homes in the US and a $2 billion pipeline of new apartments in Canada,[ 14 ] with plans to improve the quality of existing US single-family homes through an additional $1 billion of capital projects.

AIR Communities

AIR Communities’ (Apartment Income REIT Corp) portfolio comprises 70+ communities totaling 27,000+ apartment homes located in 10 states and the District of Columbia. AIR Communities’ mission is to consistently provide quality apartment homes in a respectful environment delivered by a team of people who care.

“Beautiful place to grow up. I am very thankful we are given the opportunity [to have] a place to be safe – somewhere we can be at home and listened to.”

Aisha, April Housing Resident

“I have lived here going on four months now and the amenities, the staff and the maintenance crew are top notch. I love it here!”

Resident, LivCor

“Stuytown and Peter Cooper Village are amazing places to live. I have been a resident for 10 years and have rented three different apartments in the community. All three units have been awesome.”

Resident, StuyTown

Note: All figures as of December 31, 2024, unless otherwise noted.

Blackstone portfolio company April Housing expected to be the largest preserver of affordable Low-Income Housing Tax Credit (LIHTC) housing in 2025 upon completion of the units currently in resyndication pipeline.
Based on Google Reviews at LivCor properties and calculated using an average of multifamily owners’ reviews nationwide from 1/1/24-12/31/24; includes multifamily owners with at least 10 properties.
April Housing expected to be the largest preserver of affordable housing in 2025 upon completion of the units currently in resyndication pipeline.
Princeton University Eviction Lab as of 2018.
April Housing expected to be the largest preserver of affordable housing in 2025 upon completion of the units currently in resyndication pipeline.
As of February, 2025.
Since Blackstone’s acquisition.
Since Blackstone’s acquisition. Based on Google Reviews at San Diego properties and calculated using a weighted average by unit count through February 5, 2025.
Includes two owned and four third-party developments.
Includes projects completed and currently under construction since Blackstone’s acquisition.
Represents average distance for off-campus assets weighted by number of beds in ACC’s total portfolio.
Regulator of Social Housing, as of October 2024. Based on total units delivered through March 2024.
As of March 2025.
Reflects inception to date including completed units as of December 31, 2024.