Rental properties good plays in tight market: expert on Blackstone-Tricon deal

A real estate expert says Blackstone’s proposed US$3.5-billion acquisition of Tricon Residential shows that real estate deals are out there, even in a sluggish economy.

On Friday, Blackstone announced it entered into an agreement buy the Toronto-area landlord as the firm moves further into single-family rental housing.

Josh Varghese, real estate advisor and board member of Trez Capital, said the move makes sense for both parties, as Tricon looks to grow outside of the public market and Blackstone looks to housing in a tight market.

“I think what it shows is that there’s demand for high-quality real estate even in this environment,” Varghese told BNN Bloomberg in a Friday television interview.