Blackstone said the portfolio was sold by its Sage Homes vehicle – a housing joint venture with investor Regis that was launched in 2017.
It was unclear how Blackstone intended to use the proceeds from the sale, although it said the deal would allow it to continue to invest capital in Sage Homes.
“[We] have created an institutional grade portfolio which has, in turn, attracted more long-term institutional capital into the sector,” said James Seppala, head of real estate Europe at Blackstone.