BREIT Anticipates 4% Increase in Same Property NOI at the Midpoint of 2024

Blackstone Real Estate Income Trust Inc. – a publicly registered non-traded real estate investment trust – had an aggregate net asset value of approximately $56.7 billion as of June 30, 2024, a decrease of roughly 1.1% from the previous month’s approximate $57.3 billion.

Based upon preliminary estimated financial results, BREIT expected same property net operating income for the six months ended June 30 to have increased more than 4% from the same period in the prior year (based on the midpoint of the preliminary estimated range of same property NOI).

As previously reported by Alts Wire, it met investors’ redemption requests in full for June 2024, despite withdrawals exceeding the fund’s monthly or quarterly redemption limits for the third time in four months.

Its declared monthly NAV per share as of June 30, 2024, was as follows:

Class S shares had a NAV per share of approximately $14.09, compared to $14.14 per share the previous month, a 0.34% decrease.

Class I shares had a NAV per share of approximately $14.10, compared to $14.15 per share the previous month, a 0.34% decrease.

Class T shares had a NAV per share of approximately $13.87, compared to $13.91 per share the previous month, a 0.34% decrease.

Class D shares had a NAV per share of approximately $13.77, compared to $13.82 per share the previous month, a 0.34% decrease.

Class C shares had a NAV per share of approximately $15.0742, compared to $15.0663 per share the previous month, a 0.05% increase.

The above also represents the BREIT’s Aug. 1 transaction price.

BREIT is currently offering on a continuous basis up to $60 billion in shares of common stock, consisting of up to $48 billion in shares in its primary offering and up to $12 billion in shares pursuant to its distribution reinvestment plan. As of July 17, 2024, BREIT had issued and sold in the offering approximately 836.7 million shares of its common stock in the primary offering for total proceeds of $12.4 billion and more than 168 million shares of its common stock pursuant to its distribution reinvestment plan for a total value of $2.5 billion.

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