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 February 28, 2018.
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 $10.67. As of January 31, 2018, Class S shares had a monthly net asset value of approximately $10.63 each.
Class I shares, which have a net asset value per share of approximately $10.66, are sold to endowments, foundations, pension funds and other institutional investors, as well to REIT executives, directors, and their immediate family members. As of January 31, 2018, Class I shares had a net asset value per share of approximately $10.62.
Class D shares have a net asset value per share of approximately $10.55 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 had a NAV per share of approximately $10.52 as of January 31, 2018.
Class T shares have a per share NAV of approximately $10.50 and are available through brokerage and transaction-based accounts. As of January 31, 2018, Class T shares had a per share NAV of $10.47.
Blackstone REIT has scheduled its 2018 annual meeting of stockholders to take place on Tuesday, June 11, 2018, at 5:00 p.m. EST at the offices of Simpson Thacher & Bartlett LLP in New York City.
Stockholders will be asked to elect seven directors to the board and ratify the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm.
In other Blackstone REIT news, the company recently purchased the Canyon Industrial Portfolio, a 22 million-square-foot portfolio of industrial assets, for approximately $1.8 billion.
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 has raised more than $2.3 billion in investor equity since inception and oversees a $7 billion portfolio comprised of 272 properties.