Blackstone-REIT Still Draining - Part 9

We continue to follow what is happening to the Blackstone Real Estate Income Trust's slow motion run on the bank. In September, those who wanted to withdraw their funds got 29 cents per each $1 request. 

As blog readers will know, UC's chief investment officer suddenly invested $4.5 billion in the BREIT in return for a promised high return. We noted the apparent risks entailed - financial and legal - but only one Regent ever raised much question about those risks. PR releases by the BREIT keep noting that demands for withdrawal are dropping over time. But presumably this dropping occurs because those who wanted out are gradually able to get out.

Redemption requests for Blackstone Real Estate Income Trust’s (BREIT) fund dropped for the fifth consecutive month in September. BREIT said in a letter to stockholders that it received $2.1B in redemption requests in September, a 28% drop in requests over the amount investors sought to pull out of the $67B fund in August. “We were pleased to see September repurchase requests decline meaningfully from the January peak to the lowest level since October 2022,” Blackstone said, in a statement provided to Globe St. BREIT fulfilled $625M, or about 29% of the amount investors requested in September...

Full story at https://www.globest.com/2023/10/03/blackstone-fund-redemption-requests-keep-dropping/.