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Blackstone REIT Updates Monthly NAV Per Share

Blackstone Real Estate Income Trust, Inc., a 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, and Class D shares of common stock, as of May 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 $10.18. Last month, Class S shares had a monthly net asset value per share of approximately $10.05.

Class I shares, which have a net asset value per share of approximately $10.19, 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 nearly $10.05.

Class D shares have a net asset value per share of approximately $10.16 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. Since the company did not sell any Class D shares last month, no comparison net asset value per share exists for the share class.

The company had not sold any Class T shares as of May 31st, but subsequently sold nearly 13,500 shares as of the June 20th SEC filing date.

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. Last month, the REIT added its seventh property to its $1.2 billion portfolio. As of June 20th, the company has sold approximately 88.9 million shares of common stock for more than $890 million.

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