Blackstone REIT Limited Investor Redemptions in March

Posted on April 11th, 2023 at 1:14 PM
Blackstone REIT Limited Investor Redemptions in March

From the desk of Jim Eccleston at Eccleston Law 

Blackstone Real Estate Income Trust, a non-traded real estate investment trust sponsored by Blackstone Group, announced that the company fulfilled only 15% of repurchase requests in March.

The $70 billion non-traded REIT received repurchase requests of $4.5 billion in March and fulfilled only $666 million, according to the company. The March 2023 redemptions were 16% lower than the peak in January 2023 when the company fulfilled only $1.3 billion of repurchase requests out of the $5 billion sought by investors.

The company previously noted in February that investor repurchase requests exceeded 2% of its net asset value, which constitutes the maximum monthly amount permitted under the terms of the company’s share repurchase plan. The company initially limited redemption requests after it failed to fulfill all investor repurchase requests in November 2022.

 

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

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

Thank you for your professional assistance with this matter. You are very good at what you do.

John T.

LATEST NEWS AND ARTICLES

December 19, 2024
GPB Capital Investors See Progress as Court Confirms Receivership

In a significant development for investors in GPB Capital Holdings, the private equity firm will move into receivership following a prolonged legal battle.

December 18, 2024
SEC Fines Cantor Fitzgerald $6.75 Million for Misleading SPAC Investors

The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies (SPACs) under its control to make misleading statements to investors before their initial public offerings (IPOs). 

December 17, 2024
Former Western Asset Management Co-CIO Charged with Fraud for Cherry-picking Trades

The SEC recently charged Ken Leech, former Co-CIO of Western Asset Management, with fraud.