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Private Equity Companies Buy More Apartment Units
PESP said firms bought 1.7 million units since 2018, with Blackstone owning more than 230,000 apartments and some rents rising over 30%.
- The Private Equity Stakeholder Project released an analysis showing private equity firms own nearly 3 million apartment units, representing about 13% of total U.S. rental stock.
- Investors acquired more than 1.7 million of these units since 2018, concentrating over two-thirds in 10 states including Texas, Florida, and Georgia as firms target Sunbelt areas with weaker tenant protections.
- Blackstone, the world's largest private equity firm, manages over 230,000 units, while Greystar controls over 75,000 apartments; Blackstone raised rents by over 30% in some properties acquired since 2018.
- According to Jordan Ash, PESP housing research director, the industry has "exacerbated housing affordability issues," displacing communities through "large rent hikes and aggressive evictions," diminishing tenants' quality of life.
- A 2022 ProPublica analysis found Freddie Mac financing fueled recent expansion, while private equity firms previously profited during the 2008 Great Recession, prompting calls for policymakers to protect tenants.
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Rose Law Group Reporter
Rose Law Group ReporterPrivate equity owns nearly 1 in 4 Arizona apartments — and renters are paying for it
Private equity firms own nearly 3 million apartment units, about 13% of the total apartments across the country, according to a new analysis from watchdog group Private Equity Stakeholder Project. And most have been fairly recent purchases. The companies acquired…
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Total News Sources14
Leaning Left10Leaning Right2Center1Last UpdatedBias Distribution77% Left
Bias Distribution
- 77% of the sources lean Left
77% Left
L 77%
15%
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