The world’s largest private equity firm has been accused by the United Nations of exploiting tenants and warned that it is in danger of violating human rights for its practices as landlord to millions of tenants worldwide.
Blackstone Group, which has become one of the biggest landlords in the world with $136bn of property assets under management, has been described by the UN as a “faceless corporation” that is “wreaking havoc with tenants’ right to security” and is contributing to the global housing crisis.
Leilani Farha, the UN’s special rapporteur on the right to adequate housing, said that Blackstone’s methods of renting homes were “inconsistent with international human rights law with respect to the right to housing”.
