Blackstone REIT Declares Distributions to be Paid in April
April 1, 2020 | James Sprow | Blue Vault
Blackstone Real Estate Income Trust Inc. declared distributions for each class of its common shares, to be paid on or about April 20 to shareholders of record immediately following the close of business on March 31.
Class I common stock shareholders will receive a net distribution of 5.29 cents per share, Class D common stock shareholders will receive a net distribution of 5.06 cents per share, Class T common stock shareholders will receive net distribution of 4.52 cents per share and Class S common stock shareholders will receive net distribution of 4.51 cents per share.
The distribution on Class I common stock is lower than the 2019 fourth-quarter distribution of 5.31 cents per share.
The distributions will be paid in cash or reinvested in Blackstone common shares for shareholders participating in the company’s distribution reinvestment plan.
As of December 31, 2019, the Company owned 1,054 properties and had 203 positions in real estate-related securities and loans. The real estate portfolio consisted of 199 multifamily properties with 62,534 multifamily units, 766 industrial properties with 126.9 million square feet, 59 hotel properties with 9,964 rooms, and 7 retail properties with 1.2 million square feet, one office with 228 square feet, and one net lease with 8,507 square feet. The Company also owned 21 properties that it classified as “Other”.
Subsequent to December 31, 2019, the Company closed a transaction to form a new joint venture with MGM Growth Properties LLC to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion.
For the year 2019, the Company declared distributions in the amount of $433.6 million which consisted of $169.7 million of cash distributions and $263.9 million of distributions reinvested by stockholders in shares through the DRIP. The Company funded all distributions from cash flows from operating activities.
Sources: SEC, Blue Vault
