Blackstone Real Estate Fund Facing Substantial Redemption Requests
June 2, 2023 | The Registry
Blackstone’s retail real estate fund, valued at $69 billion, experienced a seventh consecutive month of limited investor withdrawals in May, as it faced substantial redemption requests. The fund, known as the Blackstone Real Estate Income Trust or BREIT, disclosed that it received $4.4 billion in redemption requests during May, according to a recent report by Barron’s. It fulfilled 30 percent of these requests, amounting to $1.3 billion, as stated in a notice to its stockholders. The fund restricts monthly redemptions to 2 percent of its net asset value and 5 percent per quarter.
