BREIT July Total Return Ticks Up to 1.2% Across All Four Share Classes

Blackstone Real Estate Income Trust Inc., a nontraded real estate investment trust sponsored by Blackstone Inc. and commonly known as BREIT, posted a Class I net asset value per share of approximately $14.65 as of July 31, with a total return of 1.2% for the month, not annualized — a return matched by each of its three other share classes. That compares to a Class I NAV per share of $14.53 and a 1.1% total return in June.

BREIT’s three other share classes each posted the same 1.2% total return for July. Class S-2 NAV per share was $14.64, Class D-2 was $14.27, and Class T-2 was $14.38.

BREIT also repurchased 148.1 million shares of common stock and 1 million BREIT operating partnership units for a total of $2.1 billion during the six months ended June 30, satisfying all repurchase requests received during the period. AltsWire reported in July that the fund posted its best net flows in nearly four years during the second quarter, as repurchase requests fell 42% year over year and 33% sequentially from the first quarter.

BREIT has fully satisfied redemption requests in every month since February 2024, following 15 consecutive months of prorated repurchases during the fund’s 2022-23 liquidity crunch.

AltsWire previously reported that BREIT exited the self-storage business entirely in the second quarter, selling its remaining 79 self-storage properties for $852.3 million in net proceeds. The sale was part of $2.1 billion in total property dispositions during the quarter, which also included 20 rental housing properties and 27 industrial properties, producing a combined net realized gain of $294 million.

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