Real Estate
Blackstone’s BREIT Posts Worst Yearly Performance in Its History
- Annual performance missed the mark to award carried interest
- There are signs that the worst pressures on trust are abating
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A Blackstone Inc. real estate trust for wealthy investors notched a 0.5% loss in 2023, the lowest annual return since its 2017 debut.
Blackstone Real Estate Income Trust’s gains fell short of the threshold that would allow the asset manager to partake in profits. The firm can take a share of total returns as long as BREIT delivers at least 5% for the year.