Blackstone’s BREIT Records Its Biggest Advance in 6 Months

March 18, 2023

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.

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Ramón A. Rivera-Ramos
Blue Vault Nontraded REIT and Nontraded BDC Reviews
September 1, 2016

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