Blackstone Subsidiary Secures $411M Financing for 1,499-Unit National Rental Portfolio

Blackstone subsidiary Tricon Residential lands a $410.5M floating-rate CMBS loan backed by 1,499 single-family rental and condo units across nine states.

By: AXL Media

Published: Mar 12, 2026, 6:20 AM EDT

Source: https://www.multihousingnews.com/

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Custom Meta Title: Blackstone’s Tricon Residential Secures $411M CMBS Loan for SFR Portfolio

Custom Meta Description: Blackstone subsidiary Tricon Residential lands a $410.5M floating-rate CMBS loan backed by 1,499 single-family rental and condo units across nine states.

Blackstone Subsidiary Secures $411M Financing for 1,499-Unit National Rental Portfolio

Tricon Residential, a primary single-family rental (SFR) arm of Blackstone, is set to finalize a $410.5 million Commercial Mortgage-Backed Securities (CMBS) loan. This floating-rate, interest-only note—sold by the Royal Bank of Canada—is collateralized by a diverse collection of 1,490 single-family rental homes and nine condominium units. The transaction underscores Blackstone’s ongoing strategy of leveraging its massive $3.5 billion acquisition of Tricon to recapitalize and scale its footprint in the "renter-by-choice" suburban market.