Blackstone Real Estate Income Trust Declares Monthly NAV Per Share
Blackstone Real Estate Income Trust, a publicly registered non-traded REIT sponsored by private equity giant The Blackstone Group (NYSE: BX), updated its aggregate monthly net asset value for its Class S, Class I, Class D and Class T shares of common stock, as of July 31, 2017.
According to a filing with the Securities and Exchange Commission, Class S shares, which are purchased through brokerage and transaction-based accounts, have a net asset value per share of approximately $10.32. Last month, Class S shares had a monthly net asset value per share of approximately $10.29.
Class I shares, which have a net asset value per share of nearly $10.31, are sold to endowments, foundations, pension funds and other institutional investors, as well by REIT executives, directors, and their immediate family members. Last month, Class I shares had a net asset value per share of approximately $10.28.
Class D shares have a net asset value per share of approximately $10.26 each and are sold through fee-based programs known as wrap accounts, and through participating broker-dealers, certain registered investment advisers, and through bank trust departments or other organizations. Class D shares also had a NAV per share of approximately $10.26 last month.
The company recently commenced selling Class T shares which have a per share NAV of approximately $10.23 each. Last month, Class T shares had a per share NAV of $10.17 each.
In other news, Blackstone REIT recently purchased Hyatt House Downtown Atlanta, a 150-room select service hotel, for $35 million. The property is located within close proximity of the Georgia World Congress Center, Coca-Cola headquarters, and the Georgia Aquarium.
Blackstone Real Estate Income Trust is a $4 billion offering that plans to invest in stabilized income-oriented commercial real estate in the United States. The company is headquartered in New York City and externally managed by BX REIT Advisors., a subsidiary of Blackstone. Blackstone currently manages various private investment funds and one publicly-traded REIT. The REIT’s $1.7 billion portfolio consists of 13 properties, and as of August 21st, the company had raised more than $1.1 billion in investor equity.
