Blackstone Real Estate Income Trust registers $12B best-efforts offering
September 25, 2020 | Maera Tezuka | S&P Global Market Intelligence
Blackstone Real Estate Income Trust Inc. filed for a best-efforts offering of up to $12.00 billion of its class T, class S, class D and class I common shares.
The offering consists of up to $10.00 billion of shares in a primary offering and up to $2.00 billion of shares under its distribution reinvestment plan.
The company will use the net proceeds to fund its investment strategy, reduce and repay debt under various financing agreements, and finance repurchases under its share repurchase plan.
The company is externally managed by BX REIT Advisors LLC, an affiliate of the real estate group of The Blackstone Group Inc.
Blackstone Securities Partners LP is the dealer manager for the offering.
