BREIT

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Blackstone Real Estate Investment Trust (BREIT) is a REIT (real estate investment trust) launched by Blackstone Inc. in 2017.

As of 2024 it had over $100 billion in assets under management (AUM), accounting for approximately 8% of Blackstone' assets under management. [1] It is a private (non-listed) REIT, and one of the largest REITs in the world.

Blackstone appraises the value of its assets every month; this approach has been questioned. [2]

History

In February 2022 BREIT offered to buy Preferred Apartment Communities Inc, which owned about 12,000 housing units, for $5.8 billion. [3] [4]

In January 2023 the company put caps on withdrawal requests after receiving over $5 billion in redemption requests. [5]

In 2023, the University of California announced an investment of $4 billion in the trust. [6] The investment was quickly met with backlash from tenants, unions, and faculty. [7]

On July 28, 2025, Wesley LePatner, the CEO of BREIT, was killed along with three other victims in a mass shooting at BREIT's headquarters in 345 Park Avenue. [8]

References

  1. ↑ McLean, Bethany. "Veteran analysts say the world's biggest private-equity firm could be in big trouble". Business Insider.
  2. ↑ "The Big Questions Hanging Over a Blackstone Fund". The New York Times . May 7, 2024.
  3. ↑ "Blackstone to buy Preferred Apartment Communities in $5.8 bln deal". Reuters. 2022-02-16. Retrieved 2025-07-30.
  4. ↑ "Blackstone expands further into rental housing in the United States. (Published 2022)". 2022-02-16. Retrieved 2025-07-30.
  5. ↑ Bary, Andrew. "Blackstone Caps BREIT Withdrawals in January After Large Redemption Requests". barrons. Retrieved 2025-07-30.
  6. ↑ "Client Challenge". www.ft.com. Retrieved 2025-07-30.
  7. ↑ "When the Public University Is the Corporate Landlord". LPE Project. 2023-02-20. Retrieved 2025-07-30.
  8. ↑ Dunbar, Marina (July 29, 2025). "What to know about the victims of the New York City skyscraper shooting". the Guardian. Retrieved July 30, 2025.
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