Purchase Your Blue Vault Research Subscription
Blackstone’s BREIT Records Its Biggest Advance in 6 Months
March 15, 2023 | John Gittelsohn | Bloomberg
Blackstone Real Estate Income Trust Inc., the Blackstone Inc. fund for affluent individual investors, reported its biggest monthly total return in six months as February’s dividend payments and rising rents offset a decline in property valuations.
BREIT’s lowest-fee share class had a total return of 0.7% for the month, bringing trailing 12-month returns to 5.7%, according to a report posted Tuesday. The share class posted an 8.4% gain in all of 2022 and a 30.2% increase in 2021.
Growth slowed last year as rising interest rates undercut real estate values and the tide of investor inflows reversed into a torrent of redemption requests. BREIT restricted withdrawals for the four months through February as redemption demand exceeded monthly and quarterly limits.
Recent News
- Cantor Fitzgerald and Silverstein Properties Announce Joint Venture Partnership with Collins Capital Partners and Kaufman Jacobs and Closing of Construction Financing for Multifamily Opportunity Zone Development in Chesterfield County, VA
- Cultivating Wealth via Specialty Farmland
- Shopoff Sells Del Taco-Anchored Retail Center in Fullerton
- Urban Catalyst Floats Housing Instead Of Offices At Icon/Echo
- ExchangeRight’s Essential Income REIT Acquires $84 Million Portfolio
I had no idea this service existed. I could have used it years ago! Great presentation and service!
