BREIT Reports Slightly Lower Monthly NAV in April

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 April 30, 2023.

Class S shares had an NAV per share of $14.55, compared to $14.58 as of March 31, 2023. The total return for Class S shares in April 2023 was negative 1.1% (not annualized).

Class I shares had an NAV per share of $14.56, compared to $14.59 the previous month. The total return for Class I shares was negative 1.0% (not annualized).

Class T shares had an NAV per share of $14.33, compared to $14.36 the month prior. The total return for Class T shares was negative 1.1% (not annualized).

Class D shares had an NAV per share of $14.24, compared to $14.27 previous month. The total return was negative 1.0% (not annualized).

Class C shares had an NAV per share of $14.76, compared to $14.73 previous month. The total return was negative 1.1% (not annualized).

The company had nearly 4.8 billion shares outstanding as of April 30, 2023.

As The DI Wire previously reported, April was the sixth consecutive month in which BREIT has limited investor requests to redeem their shares. The company also announced that the $4.5 billion investment in BREIT from the Regents of the University of California was completed.

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 April 30, 2023, its aggregate NAV was $69.7 billion.

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