Blackstone’s BREIT Ready to ‘Play Offense’ With $14 Billion
January 31, 2023 | John Gittelsohn | Bloomberg News
The Blackstone Inc. real estate investment trust that limited investor withdrawals after a surge in redemptions last year said it now has about $14 billion of liquidity and is gearing up to hunt for deals.
“We have ample capital to play offense in a world where we think there’s going to be some interesting deployment opportunities,” Nadeem Meghji, Blackstone’s head of Americas real estate, said Tuesday during a stockholders meeting for Blackstone Real Estate Income Trust.
Blackstone cemented its stature as a powerhouse in the real estate industry with the growth in BREIT in recent years. But the $69 billion trust came under pressure as markets turned last year and more investors wanted out. BREIT still has a backlog of withdrawal requests to address, Meghji said.
