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Report: Blackstone emerges as buyer of Tricon's manufactured-housing portfolio

Private equity group Blackstone Group LP is the buyer of Tricon Capital Group Inc.'s 14-community manufactured-housing investment vertical, Tricon Lifestyle Communities, Bloomberg News reported, citing people with knowledge of the matter.

Tricon completed the portfolio sale earlier in July for approximately US$172 million, generating about US$84 million in net proceeds from the transaction. The deal marks Blackstone's entry into the manufactured housing sector, the news outlet added.

A Blackstone representative declined to comment on the matter, while a Tricon representative was unavailable for comment.