Exceptionally High Standards for the Benefit of Our Residents


invested to create and improve our residential properties globally since 2014


residential portfolio company employees globally1


global pensioners who benefit from our investment results

Our Approach to Rental Housing

Blackstone is incredibly proud of its investments in housing. We have spent billions of dollars through both our equity investments and lending activities to make existing communities better places to live, add to the supply of housing and create thousands of jobs in local communities around the world.

Blackstone Housing Principles

We have found that expertly managed properties lead to more satisfied residents, lower turnover and stronger communities. We have an experienced team of property management professionals in place to ensure that our properties are managed and maintained to the highest possible standards which are guided by the Blackstone Housing Principles.

Property Maintenance

Focusing on Resident Experience

upward bar graph icon


increase in StuyTown’s Net Promoter Score since our investment

Heart in hand icon


increase in reported resident satisfaction rates across our US multifamily investments compared to the prior ownership2

Buildings icon


repairs completed at our San Diego housing portfolio since acquisition in August 20213

Case Study: Improving Communities in San Diego

We are leaders in protecting tenants, preserving affordability and improving properties.

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

We aim to be leaders in protecting residents, and during the pandemic, Blackstone recognized that many were experiencing extreme hardship. We believe we are the only major landlord in the US that did not evict a single resident for non-payment during 2+ years of the pandemic. Prior to the pandemic, we had an eviction rate in the US that was half the historical national average.4

Preserving Affordable Housing

We are a large owner of affordable housing in the US. In our US Low-Income Housing Tax Credit (LIHTC) portfolio, we intend to extend affordability beyond when government programs expire, ensuring thousands of homes across the country remain affordable.

Adding to the Supply of Housing

Blackstone aims to be part of the solution to the imbalance between supply and demand for housing. We add to the supply of high-quality, professionally managed rental housing with single-family, multifamily and student housing, and are working to develop new housing stock in the communities where people want to live.

In the News

Sage renderings

April 19, 2024

Blackstone Q&A: Partnerships are Key to Attracting More Institutional Capital Into the Sector

January 8, 2024 

April Housing and Dominium Team on Colorado Development

April Housing Casa Azure Renderings

April 13, 2023 

Blackstone Provides $31M for Phoenix Seniors Affordable Housing Development 

Load More News

November 14, 2022

Blackstone Backed For-profit Tops List on New Affordable Home Delivery

October 24, 2022

Blackstone Partners With Dominium on Phoenix Affordable Housing Development

January 31, 2022

Blackstone to Spend $1 Billion Offering Tenants Reduced Rents through new Home Partners of America Program

September 7, 2022

Affordable Housing Finance: April Housing Takes Key Steps in its First Months

May 14, 2022

Martin Luther King III: Keep building affordable housing to bring American Dream closer for all

February 23, 2022

Bloomberg: Blackstone Forms New Company for Push into Affordable Apartments

March 11, 2021

Inside Housing: For-profit Sage Raises £280M through First ESG Bond

Principles in Action

Portfolio Spotlights

Affordable housing Colorado

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.

Choice Lease by Home Partners

The Choice Lease program intends to deploy at least $1 billion to offer low-to-moderate-income families and historically under-represented communities rental rates that are ~10% below market and a customized path to home ownership.

Sage Homes example

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 three years running—in 2021, 2022 and 2023—contributing to much needed supply. Blackstone has committed over £3.7 billion to enable Sage to deliver more than 14,500 new affordable homes, with another 8,000 in the pipeline to be delivered by 2030.

StuyTown, New York


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

NEC Group

The NEC Group

The NEC Group is a leading UK live events business with over 45 years of world-class expertise in venue and destination management. Working with Blackstone, the NEC group is set to provide 5,000 homes, transforming over 27 hectares of surface level car parking and surplus land.

American Campus Communities, Tooker House Exterior

American Campus Communities

Blackstone Core+ perpetual capital vehicles acquired American Campus Communities, the largest owner of student housing in the United States.


Our Approach to Rental Housing
Myth vs. Fact
Blackstone Housing Principles

Note: All figures as of December 31, 2023, unless otherwise noted.

  1. As of December 31, 2023, pro forma for Tricon Residential.
  2. Based on Google Reviews at LivCor properties and calculated using a weighted average of reviews through January 31, 2024; includes properties with at least 5 Google Reviews before and after acquisition.
  3. As of March 31, 2024.
  4. Princeton University Eviction Lab as of 2018.

While Blackstone believes ESG factors can enhance long-term value, Blackstone does not pursue an ESG-based investment strategy or limit its investments to those that meet specific ESG criteria or standards, except with respect to products or strategies that are explicitly designated as doing so in their offering documents or other applicable governing documents. Any such considerations do not qualify Blackstone’s objectives to maximize risk-adjusted returns.