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Blackstone Makes $1.6 Billion Investment in Home Design Firm

[Updated: Mar 05, 2021 ] Feb 05, 2021 by Jeff Piltch
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Blackstone (NYSE: BX) has been making some noise in the single-family housing market. Back in the third quarter of 2020, Blackstone announced it was going to lead a $300 million syndicate to invest in Tricon Residential, an owner-operator of over 30,000 single-family and multifamily properties.

That news came only a few months after Blackstone announced it was going to sell its stake in Invitation Homes, the largest owner of single-family rental homes in America, which it started building in 2012.

Now, Blackstone is acquiring Interior Logic Group Holdings, LLC (ILG) for $1.6 billion.

Who is ILG, and what does this mean?

ILG is a home design firm that provides homebuilders with interior finishes, such as countertops, flooring, window coverings, and cabinets. The company also services builders with installation and supply-chain management options. ILG currently operates in 37 states and helps complete around 100,000 homes per year.

It certainly looks like Blackstone is getting back into the single-family game. It also seems as if the firm just unloaded Invitation Homes so it could have some dry powder to get back to what it was doing in 2012.

The Millionacres bottom line

Last year, people thought that the firm may have cashed out and moved on from single-family when it sold Invitation Homes. But this $1.6 billion acquisition of ILG is signaling otherwise. Blackstone was just trimming the fat in preparation for a return to action.

While on one hand, this means that Blackstone believes in the single-family market, on the other, it means investors will be competing for deals.

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The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.