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 Sept. 30, 2022.
Class S shares had an NAV per share of $15.10, compared to $15.09 previous month. The total return for Class S shares in June 2022 was 0.4% (not annualized).
Class I shares had an NAV per share of $15.11, compared to $15.09 previous month. The total return for Class I shares was 0.5%.
Class T shares had an NAV per share of $14.88, compared to $14.87 previous month. The total return for Class T shares was 0.4%.
Class D shares had an NAV per share of $14.79, compared to $14.78 previous month. The total return was 0.4%.
[EDITOR’S NOTE: All dollar amounts are rounded to the nearest cent above.]
Investments in real estate increased from $119.1 billion in August to $118.4 billion in September, while investments in real estate debt decreased from $10.1 billion to $9.9 billion. Investments in unconsolidated entities increased slightly from $10.4 billion in August to $10.9 billion in September.
Cash and cash equivalents decreased from $2.8 billion to $1.7 billion, restricted cash decreased from $1.8 billion to $1.5 billion, and other assets increased from $4.3 billion to $6.1 billion.
Mortgage notes, term loans and revolving credit facilities decreased from ($64.8 billion) in August to ($63.1 billion) in September. Secured financings on investments in real estate debt remained flat at ($5.1 billion).
Subscriptions received in advance decreased from ($801.6 million) to ($577.0 million), and other liabilities increased from ($3.4 billion) to ($3.7 billion). The company had nearly 4.7 billion shares outstanding as of Sept. 30, 2022, compared to nearly 4.6 billion the previous month.
Blackstone Real Estate Income Trust’s initial offering launched in August 2016 and has raised approximately $60 billion in three public offerings as of June 2022. The current offering has raised $6.6 billion, and as of Sept. 30, 2022, its aggregate NAV was $70.4 billion.