Blackstone Real Estate Income Trust invests primarily in commercial real estate in the United States.
(Photo: Reuters)
Dusseldorf It is a clear alarm signal for the US real estate market: The US investment company Blackstone is limiting repayments from its $ 69 billion real estate fund Blackstone Real Estate Income Trust (Breit) due to excessive outflows. Due to too many redemption requests, the return was limited, the private equity house announced on Thursday. Only 43 percent of the applications were approved in November.
There are thresholds for how much money investors can take out of a fund to avoid forced sales. According to the company, these limits are two percent of the net asset value, and the limit per quarter is five percent. The threshold values were therefore exceeded. A fund’s net asset value is the total value of the fund’s assets.
The real estate division is a central pillar of the Blackstone business. According to its own statements, the managed investor capital is around 319 billion dollars. The fund invests primarily in commercial real estate in the United States.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue