Blackstone REIT Share Pricing – Flattening the Curve

April 8, 2020 | James Sprow | Blue Vault

In the monthly pricing announcement filing with the SEC on March 20, 2020, Blackstone Real Estate Income Trust (“BREIT”) posted pricing for its four share classes for the month of April. Those share prices declined from the March prices, a break in the trend for the REIT’s estimated net asset values (NAVs) that had been steadily increasing since its inception in 2017. From the pricing of shares in April 2019 to the March 2020 pricing, the NAVs had increased 5.39% for Class S and Class I shares.

With the drop of 52 basis points from the March 2020 pricing per share to the April 2020 prices, the year-over-year increase for Class S and Class I shares was reduced to 4.85%. With the COVID-19 crisis impacting commercial real estate pricing across the board, it will be interesting to see how nontraded REITs with continuous offerings and monthly share pricing based upon their NAVs will respond. The next announcement of BREIT’s pricing for its four share classes should be filed with the SEC around April 17. 

Source: SEC