Blackstone Group is betting heavily on residential real estate, Chairman and CEO Stephen Schwarzman told CNBC on Monday.
“Blackstone is now the largest owner of individual houses in the United States,” Schwarzman told CNBC’s “Squawk on the Street” Monday, pointing to his company’s $3 billion portfolio of residential real estate.
But given the nascent recovery in the housing market, they’re not buying and selling them quickly but rather renting them out.
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