A recent opinion piece in Investment News raises questions about the valuation practices of Blackstone Real Estate Income Trust Inc. (BREIT). Nontraded REITs often rely on internally determined valuations, leading to opacity and potential discrepancies in value. Despite concerns about the broader commercial real estate market, BREIT’s net asset value (NAV) has remained high, raising […]
This morning, Bloomberg reported that Wall Street’s largest commercial real estate landlord, private equity giant Blackstone, has defaulted on a $562 million bond. This bond was backed by a portfolio of offices and stores owned by Sponda Oy, a Finnish landlord acquired by Blackstone in 2018. This default is a significant event in the financial […]
Blackstone Inc. limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday following a surge in redemption requests. This move marks an unprecedented challenge to a franchise that has played a crucial role in transforming Blackstone into an asset management giant. The restrictions were triggered because redemption requests hit pre-established limits, […]