Blackstone's Real Estate Trust Continues to Limit Withdrawals for Sixth Straight Month.
TL;DR Summary
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(BREIT), has limited redemptions for a sixth straight month, allowing only 29% of the $4.5 billion requested to be withdrawn in April.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.
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- Blackstone's REIT Limits Withdrawals for the Sixth Month in a Row Commercial Observer
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