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Blackstone's Real Estate Trust Continues to Limit Withdrawals for Sixth Straight Month.

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Source: Yahoo Finance
TL;DR

Blackstone's $70 billion real estate trust for wealthy individuals, Blackstone Real Estate Income Trust (BREIT), has limited redemptions for a sixth straight month, allowing only 29% of the $4.5 billion requested to be withdrawn in April. BREIT restricts withdrawals to about 2% monthly or 5% a quarter. The fund's performance was negative in Q1 2021 due to interest rate hedges falling in value when yields declined in March. BREIT is mostly invested in rental housing and industrial properties, sectors in which it sees stronger fundamentals and cash flows.

Topics:businessfinance#blackstone#finance#investments#market-turmoil#real-estate#withdrawals
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  1. Blackstone’s Real Estate Trust Limits Withdrawals for Sixth Straight Month  Yahoo Finance
  2. Blackstone Limits Breit Withdrawals for Sixth Straight Month  Barron's
  3. BREIT Fulfills 29% Of April Withdrawal Requests, Limits Redemptions For Sixth Month Straight  Bisnow
  4. Blackstone's REIT Limits Withdrawals for the Sixth Month in a Row  Commercial Observer
  5. Blackstone Redemption Payouts Surpass $6 Billion  CoStar Group

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