BREIT Limits Redemption Requests for Sixth Consecutive Month

Posted on May 5th, 2023 at 1:25 PM
BREIT Limits Redemption Requests for Sixth Consecutive Month

From the desk of Jim Eccleston at Eccleston Law 

Blackstone Real Estate Income Trust Inc. has announced that the company limited redemption requests again last month raising concerns among some investors and industry participants.

 April constitutes the sixth consecutive month in which BREIT, which is sponsored by Blackstone Group, has limited redemption requests. BREIT received $4.5 billion in repurchase requests in April, which is 15% below the January 2023 peak. BREIT is expected to redeem $1.3 billion under the company’s repurchase proposal, which equates to 2% of NAV and is tied to only 29% of the shares submitted for repurchase.

BREIT previously received redemption requests of $4.5 billion in March 2023, and the company fulfilled just $666 million, or 15% of the shares submitted for redemption. BREIT further noted that 93% of the company’s investors have decided to continue investing in BREIT. BREIT has approved $6.2 billion worth of redemption requests since November 2022.

 

Eccleston Law LLC represents financial advisors and investors nationwide in securities, employment, transition, regulatory and disciplinary matters.

Tags: eccleston, eccleston law

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