Blackstone intends to complete Tricon's $2.5B development
Blackstone intends to complete Tricon's $2.5B development pipeline of new apartments in Canada and $1B of new single-family rental homes in the United States. Blackstone will also improve the quality of Tricon's existing US rental homes through an additional $1B of planned capital projects over the next several years."Tricon provides access to high-quality housing, and we are fully committed to delivering an exceptional resident experience together," said Nadeem Meghji, Global Co-Head of Blackstone Real Estate.
"We are excited that our capital will propel Tricon’s efforts to add much needed housing supply across the US and in Toronto, Canada."
From Toronto storeys
What would happen to Toronto realtor marketing ?
For professional who work in Canada's developement and construction, it is a good news for them. My question is when and how the development can be programmed in a reasonable schedule.
Blackstone is the leading firm on the investment management company. When they announce to leave China, those equity needs a new project to allocate. However Canada has issues with its own construction issues, lack of labour, union and lack of new technology.
Good luck for canadian who has not become house owner yet
Canada is a good alternative. You know Canada always take years and years to do even very sample project. Envirment and cost all change after time. Nobody know how it end up. what a joke by building nefugee camp right by the multi million mansions yeah that is pretty ridiculous - like have a tent city in a city park too.
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