Blackstone has made a $200m minority investment in Entrata, the Utah-based software provider powering operations across the global multifamily rental housing sector.

The deal values Entrata at $4.3bn and marks a major milestone as the company moves into its next stage of growth.

Founded in 2003, Entrata offers a comprehensive operating system for property owners and managers, supporting over 12 million residents across more than 35,000 communities worldwide. Its platform covers the full leasing lifecycle, including accounting, leasing, maintenance, payments, and resident engagement.

“Over twelve million residents in properties across the largest property management portfolios in the world utilise the Entrata operating system,” said CEO Adam Edmunds. “Blackstone’s investment aligns capital and expertise to help expand our reach and improve the rental experience across the board.”

The firm’s innovation pipeline includes ELI+, an integrated platform for leasing, payments, and renewals, as well as Homebody, a resident engagement and loyalty solution. Entrata has continued to scale its product suite following Silver Lake’s majority investment in 2021, and Blackstone’s backing further deepens the firm’s commitment to the proptech space.

“We are pleased to invest in Entrata as they expand their technology for property managers,” said Brian Dunlap, Managing Director at Blackstone. “We’re excited to partner with Adam and his team to drive continued innovation for clients and residents alike.”

Wilson Sonsini Goodrich & Rosati served as legal counsel to Entrata on the transaction.

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