Report : Blackstone Plans Invitation Homes IPO In H1 Of 2017

(RTTNews) - Private equity firm Blackstone Group L.P. (BX) expects to take its Invitation Homes unit public in the first half of next year, Bloomberg reported citing two people familiar with the matter.

The size and exact timing of an initial public offering haven't been decided, the report said.

Invitation Homes, which would go public as a real estate investment trust, oversees about 50,000 houses across the U.S. Blackstone built the company in the aftermath of the housing crash, making the largest investment among big buyers that snapped up properties at depressed prices to institutionalize the business of leasing single-family homes.