BREIT (Blackstone Real Estate Income Trust)

active

Real Estate — Blackstone

Deal Terms

Entry Year2017

Entry EV$68B

Entry Multiple12x

Leverage4x

Debt Amount$27.2B

Risk Metrics

LTV (est.)40%

Debt / EV0.40x

Notes

$68B peak AUM non-traded REIT. Payout ratio hit 519% — paying 5x what it earns. Redemption gates since Nov 2022. MacKenzie tender at $9.27 vs Blackstone NAV of $14.88 (38% discount). Retail investors trapped. Blackstone injected $4B from UC system to calm panic.

Sponsor

Blackstone$1270B AUM