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Blackstone's $5.1 Billion Deal for AIG's Affordable Housing Unit Reflects Short Supply

Blackstone Also Seeks To Manage AIG’s Life and Retirement Assets
Among AIG Affordable Housing's portfolio are the Maple Grove Villas in West Des Moines, Iowa. (CoStar)
Among AIG Affordable Housing's portfolio are the Maple Grove Villas in West Des Moines, Iowa. (CoStar)

Blackstone Real Estate Income Trust is beefing up its multifamily assets with a $5.1 billion deal to acquire American International Group's portfolio of affordable housing, a type of property that's in short supply across the United States.

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