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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Blackstone Inc | NYSE:BX | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.395 | 0.34% | 117.005 | 119.25 | 115.82 | 116.54 | 1,280,593 | 18:12:58 |
From May 2022 to May 2024
By Will Feuer
Blackstone Inc., through its affordable-housing portfolio company April Housing, said it has struck a deal with nonprofit RiseBoro Community Partnership to preserve affordability at some properties.
The agreement, which affects three multifamily properties totaling 190 units in Brooklyn, N.Y., resolves litigation between RiseBoro and a business that Blackstone inherited through a portfolio acquisition.
Under the terms of the deal, RiseBoro will get a majority interest in the properties. Blackstone has also committed to donate $1.2 million over 15 years to fund RiseBoro's resident support services.
"Responsible investors play a critical role in our country's affordable housing ecosystem and we are pleased to be establishing a new model for partnership among non-profit organizations and private investors," RiseBoro Chief Executive Scott Short said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
July 01, 2022 10:06 ET (14:06 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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