Blackstone (NYSE:BX) Real Estate Investment Trust, known as BREIT, received redemption requests for $4.5B last month, marking the fifth straight month that it has limited redemptions.
The amount increased from the $3.9B requested in February. BREIT, which isn’t publicly traded, only allowed $666M to be withdrawn, or ~15% of the requested amount, Bloomberg reported Monday, citing a letter to investors.
The $70B fund that invests in real estate on the behalf of wealth individuals limits redemptions to 20% of net asset value in any month and 5% of NAV in a calendar quarter.
In December, Barclays downgraded Blackstone (BX) to Equal Weight after the private equity giant started limiting repurchase requests in November 2022.
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