Blackstone Real Estate launches April Housing

Blackstone announced its new portfolio company, April Housing, which will serve as a leading provider of solutions and capital for the creation and preservation of high-quality affordable housing throughout the United States. April Housing will oversee and preserve affordability of an initial portfolio of more than 90,000 housing units recently acquired by Blackstone Real Estate Income Trust, Inc. (BREIT).

April Housing’s commitment to preserving the affordability of this critical housing stock on a long-term basis is made possible by BREIT’s perpetual capital structure. Rents at virtually all of the April Housing properties are set by government regulation through the Low Income Housing Tax Credit (LIHTC) program. The rent restrictions have, on average, 20 years of remaining term, and Blackstone said it intends to keep them affordable for the long-term.

April Housing is committed to providing best-in-class management, improvements to properties and support to resi