Blackstone Real Estate Income Trust, a publicly registered non-traded REIT sponsored by private equity giant The Blackstone Group (NYSE: BX), updated the monthly net asset values for its Class S, Class I, Class D and Class T shares of common stock, as of June 30, 2019.
Class S shares, which are purchased through brokerage and transaction-based accounts, have a net asset value per share of approximately $11.10. Last month, Class S shares had a monthly net asset value of approximately $11.06 each.
Class I shares, which have a net asset value per share of approximately $11.08, are sold to endowments, foundations, pension funds and other institutional investors, as well to REIT executives, directors, and their immediate family members. Last month, Class I shares had a net asset value per share of nearly $11.04.
Class D shares have a net asset value per share of approximately $10.95 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. Last month, Class D shares had a NAV per share of approximately $10.91.
Class T shares have a per share NAV of approximately $10.90 and are available through brokerage and transaction-based accounts. Last month, Class T shares had a per share NAV of $10.86.
Blackstone Real Estate Income Trust, a perpetual life, monthly NAV REIT, invests in stabilized income-oriented commercial real estate in the United States and real estate-related securities. The company is headquartered in New York City and externally managed by BX REIT Advisors, a subsidiary of Blackstone.
Blackstone REIT oversees a portfolio of 491 commercial real estate properties purchased for $11.9 billion as of March 31, 2019, and its investment portfolio also included 118 positions in real estate-related securities that totaled $2.4 billion. The REIT has sold 211.7 million shares of common stock, as of July 16, 2019.