Blackstone completed the acquisition of Tricon Residential for $3.5bn.

Blackstone, an alternative asset manager, completed the acquisition of Tricon Residential, a Canadian real estate company, for $3.5bn. “This transaction marks an exciting new chapter in Tricon’s history, one poised to deliver exceptional outcomes for our residents. In partnership with Blackstone, we have the capital and expertise to take our business to the next level, including growing our Canadian multi-family development platform that is providing much needed market rate and affordable housing supply. In the U.S., we will continue to help hard-working American families access quality single-family homes and good schools in desirable neighborhoods, and our commitment to genuine, caring customer service remains unwavering," Gary Berman, Tricon President & CEO.