Blackstone Inc. has sold 3,000 homes to the UK's largest private pension fund, Universities Superannuation Scheme Ltd., for £405 million ($518 million), marking one of the year's largest housing transactions. The portfolio, consisting of shared ownership units, was acquired from Sage Homes, an affordable housing provider majority-owned by Blackstone. This deal is the second-largest residential transaction in the UK this year, following Blackstone's earlier £580 million purchase of 1,750 homes from Vistry Group Plc. The transaction aligns with Blackstone's strategy of investing in residential properties to capitalise on anticipated supply shortages and rising rents. The acquisition by USS also supports the UK's new Labour government's goal to build 1.5 million new homes over five years. Additionally, it represents the largest purchase of shared ownership homes since the programme's inception in 1990. Blackstone's head of real estate Europe, James Seppala, stated that the deal would enable further investment in Sage Homes to address the housing shortage. Attribution: Bloomberg Subediting: M. S. Salama
