Blackstone’s BREIT Saw $4.5 Billion of Withdrawal Requests
- Real estate trust has limited redemptions for five months
- Firm says structure is designed to prevent liquidity mismatch
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Blackstone Inc.’s $70 billion real estate trust for wealthy individuals faced higher withdrawal requests in March and restricted redemptions for a fifth straight month.
Shareholders asked to redeem $4.5 billion last month from Blackstone Real Estate Income Trust “in a month of tremendous market volatility and broad-based financial stress,” the company said Monday in a letter. BREIT allowed about $666 million to be withdrawn, or about 15% of what was requested.