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BREIT Reports 1.1% Decrease in Monthly Total NAV

BREIT Reports 1.1% Decrease in Monthly Total NAV. Blackstone Real Estate Income Trust, real estate investment trust, REIT, alternative investments, NAV, net asset value, BREIT, redemptions

Blackstone Real Estate Income Trust Inc. – a publicly registered non-traded real estate investment trust sponsored by private equity giant The Blackstone Group (NYSE: BX) – reported that its total net asset value declined in value by 1.09% month-over-month as of the close of January, declining from $60.74 billion at the close of 2023 to $60.08 billion. For the same period, as previously reported by The DI Wire, the REIT fulfilled 88% of January repurchase requests.

Its declared monthly NAV per share as of Jan. 31, 2024, was as follows:

Class S shares had an NAV per share of $14.11, compared to $14.09 per share the previous month, a 0.14% increase.

Class I shares had an NAV per share of $14.12, compared to $14.10 per share the previous month, a 0.14% increase.

Class T shares had an NAV per share of $13.89, compared to $13.87 per share the previous month, a 0.14% increase.

Class D shares had an NAV per share of $13.80, compared to $13.78 per share the previous month, a 0.15% increase.

Class C shares had an NAV per share of $14.82, compared to $14.73 per share the previous month, a 0.61% increase.

The above also represents the BREIT’s March 1, 2024, transaction price.

In January 2024, BREIT received $1.3 billion in requests under the repurchase plan. This represents about an 18% increase from the previous month, December 2023. In accordance with their repurchase plan, BREIT fulfilled approximately $1.1 billion, equal to 2% of NAV and representing 88% of the shares submitted for repurchase.

BREIT is currently offering on a continuous basis up to $60 billion in shares of common stock, consisting of up to $48 billion in shares in its primary offering and up to $12 billion in shares pursuant to its distribution reinvestment plan. As of Feb. 15, 2024, BREIT had issued and sold in the offering nearly 779.6 million shares of its common stock in the primary offering for total proceeds of $11.5 billion and more than 139.3 million shares of its common stock pursuant to its distribution reinvestment plan for a total value of $2.1 billion. As of Jan. 31, 2024, its aggregate NAV was $60.1 billion.

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