Blackstone's $69 Billion REIT Curbs Redemptions in Blow to Property Empire

Blackstone’s $69 Billion REIT Curbs Redemptions in Blow to Property Empire

December 2, 2022 | Chibuike Oguh & Herbert Lash | Reuters

Blackstone Inc (BX.N) limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday after a surge in redemption requests, an unprecedented blow to a franchise that helped it turn into an asset management behemoth.

The curbs came because redemptions hit pre-set limits, rather than Blackstone setting the limits on the day. Nonetheless, they fueled investor concerns about the future of the REIT, which makes up about 17% of Blackstone’s earnings. Blackstone shares ended down 7.1% on the news on Thursday. They were down a further 2% on Friday morning at $83.45.

Recent

Bluerock Fund Advisor Wins the Prestigious 2023 Asset Manager of the Year Award from Money Management Institute / Barron’s

October 19, 2023

Bluerock Fund Advisor and the Bluerock Total Income+ Real Estate Fund (“Bluerock TI+ Fund,” “Fund,” "TI+,” tickers: TIPRX, TIPPX, TIPWX, TIPLX, TIPMX), the largest real estate sector interval fund, today announced it has won the Money Management Institute (MMI) / Barron’s Asset Manager of the Year (AUM

Cantor Fitzgerald Infrastructure Fund Announces Third Quarter 2023 Distribution

October 18, 2023

Cantor Fitzgerald Infrastructure Fund (the “Fund”) announced a thirdquarter distribution of $0.0696 per Class A share (NASDAQ: CAFIX), $0.0693 per Class C share (NASDAQ: CFCIX) and $0.0696 per Class I share (NASDAQ: CFIIX)...

SmartStop Opens New Self-Storage Facility in San Gabriel, California

October 18, 2023

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self-storage company, announced today that it has opened an approximately 78,000 square foot storage facility in San Gabriel, California....

Blackstone REIT’s Share Redemptions Story Far From Over

October 18, 2023

One of the hottest topics in the nontraded REIT space, beginning in November 2022, has been the share redemption requests submitted by the shareholders of Blackstone Real Estate Income Trust (“BREIT”) and the REIT’s capping of repurchases at 2% of aggregate NAV per month and 5% per quarter...

Most Popular

Blue Vault Q2 2023 Performance Reports Update

October 3, 2023

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…

Blue Vault Q2 2023 Performance Reports Update

September 25, 2023

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Blackstone Is the First Alternative Asset Manager to Hit $1 Trillion AUM. So Where Does It Go From Here?

August 23, 2023

In July, Blackstone BX reported that it had surpassed $1 trillion in total assets under management during the second quarter of 2023, being the first alternative asset manager to cross that threshold. A bit of background to start: “Alternative asset management” is an umbrella term for asset managers that specialize in private market investment strategies like private…

Explore

Don’t miss alts news
and educational events
Subscribe Now