Blackstone Group(BX 0.97%) is back in the headlines again this week with another multi-billion-dollar purchase of a real estate investment trust (REIT). I am not receiving compensation for it (other than from Seeking Alpha). Receive at least 75% of gross income from real estate, such as real property rents . Multifamily REIT Preferred Apartment Communities announced . Dollar Tree Inc forecast annual profit well below estimates on Wednesday, hurt by elevated freight and investment costs and as consumers rein back spending on discretionary items. "Our business is built on performance, not fund flows, and performance is rock solid," the spokesperson said. Join us for a 2-week free trial and get access to all my highest conviction investment ideas. Blackstone CEO Steve Schwarzman noted on the company's recent, that "BREIT has delivered 12.5% net returns annually since inception six years ago for its largest share class, earning over three times the public REIT index. Blackstone Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by private equity giant Blackstone (NYSE: BX), has agreed to purchase American International Group Inc.'s (NYSE: AIG) interests in a U.S. affordable housing portfolio for approximately $5.1 billion, in an all-cash . Both share classes can be bought through fee-based programs, registered investment advisors, institutional and fiduciary accounts. The majority of their real estate properties are in the residential (especially multifamily homes) and industrial sectors. As of FY 2020, BREITs real estate debt investments consist of 194 investments in CMBS, 15 investments in RMBS, 10 corporate bond investments, and 9 real estate loans. Their recent investments are, namely, in residential, industrial, net lease, hospitality (leisure market), self-storage, retail, and office. As such, many REITs are now priced at large discounts relative to the underlying value of the real estate they own. Let's take a look at two potential buyout targets for Blackstone in these property sectors. These deals showcase its growing, dominance in the commercial real estate sector, However, even after the recent REIT shopping spree, Blackstone still has plenty of dry powder to continue buying real estate. It owns mainly rental housing and industrial properties. Last week, it reached a $12.8 billion deal to acquire student housing-focusedresidential REITAmerican Campus Communities. Those sectors are benefiting from long-term tailwinds and inflation. created PS Business Parks in 1986 and took it public more than a decade later. Just a month after, it grew to 1,508 properties. February 27, 2023 3:33 PM. I wrote this article myself, and it expresses my own opinions. Blackstone and Soilbuild are selling Bukit Batok Connection months after privatising Soilbuild REIT US developer and investment firm Hines has made its first acquisition in the Singapore market, teaming up with German fund manager DWS Group to buy a ramp-up workshop in the Bukit Batok area from a Blackstone-controlled trust for S$93.8 million ($69 million). Blackstone has outperformed the market over the past 15 years by 5.0% annually. Yahoo fa parte della famiglia di brand di Yahoo. Currently, BREITs presence dominates in the NAV REIT market. They both have quality management teams with significant skin in the game. As of July 2021, BREIT has a total of 1,508 real estate properties in the . That was . This limits your ability to get in and out of the real estate market, increasing risks, and potentially also limiting your ability to act on new investment opportunities. Under the terms of the agreement, B REIT will acquire the REIT 's portfolio of multifamily, garden-style assets comprised of 42 apartment communities totaling more than 12,600 units. Despite the COVID-19 pandemic, BREIT achieved a 6.1% net return in 2020 for the Class S shares which has the most number of stockholders among its common shares. The 28,385 square metre building is 10-storeys and was redeveloped in 2010-11 as part of the Westfield Sydney redevelopment. Nexus Select Trust has a portfolio of 17 operational shopping malls . To make the world smarter, happier, and richer. When expanded it provides a list of search options that will switch the search inputs to match the current selection. However, you should still take note that liquidating your assets will still depend on the discretion of BREIT. NEW YORK, Dec 1 (Reuters) - (This Dec. 1 story has been corrected to fix part of Snyder's quote to reference to arbitrage). Since its inception in 2017, BREIT has consistently issued monthly distributions to its stockholders. A disadvantage of non-traded REITs is the higher management fees as compared to traded REITs. These properties are overwhelmingly concentrated in Texas, especially Austin, Dallas/Fort Worth, and Houston. Investors always going with the big names to their detriment. They claim that, unlike public REITs, BREIT is uncorrelated with the public stock market because it is a non-listed real estate investment vehicle. Real estate major DLF has no plans to launch public offer of REIT in the next one year to monetise its rent-yielding commercial properties, its CEO Ashok Tyagi said. Blackstone is taking another REIT private. Blackstone of course wants you to invest in BREIT because they earn fees for managing it. They and other analysts said Blackstone's REIT runs the risk of getting caught in a spiral of selling assets to meet redemptions if it cannot regain the trust of its investors. What Blackstone's REIT Acquisition Spree Is Telling Investors, Blackstone Is Becoming a Real Estate Powerhouse, 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 3 Stocks That Could Join Apple, Microsoft, and Alphabet in the $1 Trillion Club, 1 Bargain-Basement Warren Buffett Stock Down 78% to Buy Before It Starts Soaring, 2 Growth Stocks That Can Turn $250,000 Into $1 Million by 2030, With billions of dollars in dry powder across its real estate private equity funds and cash continuing to pour into its funds. Jussi Askola is a former private equity real estate investor with experience working for a +$250 million investment firm in Dallas, Texas; and performing property acquisition in Germany. Two sources familiar with the matter said turmoil in Asian markets, fueled by concerns about China's economic prospects and political stability, contributed to the redemptions. See here for a complete list of exchanges and delays. Blackstone's public non-listed REIT, BREIT, has been one of the best-performing REITs of this year.It has managed to deliver a 9% total return with low volatility even as the public . Jupiter 12 Industrial Portfolio, Canyon Industrial Portfolio, Meridian Industrial Properties, etc. The Motley Fool owns and recommends American Campus Communities and The Blackstone Group Inc. We spend 1000s of hours and over $100,000 per year researching the market for the most profitable investment opportunities and share the results with you at a tiny fraction of the cost. Natalie Wong. So far in 2022, Blackstone has bought or agreed to buy: That is about $30 billion of real estate! But the better way to gauge a REITs performance is through its FFO. And, as you can see from the metrics above, this portfolio has exhibited incredibly strong organic performance so far this year. TORONTO - Blackstone Real Estate Income Trust Inc. has signed a deal to buy WPT Industrial Real Estate Investment Trust in an all-cash deal valued at US$3.1 billion . As of July 2021, BREIT has a total of 1,508 real estate properties in the residential, industrial, net lease, self-storage, hotel/hospitality, retail, and office sectors located across the U.S. BREITs occupancy rates are all above 90% for almost all sectors, with the exemption of the hotels/hospitality sector which was heavily affected by the COVID-19 pandemic. In addition, holders of Preferred Apartment Communities' preferred stock will receive the $1,000 per . Associate Director at Atlantic Group. If you want full access to our Portfolio and all our current Top Picks, feel free to join us for a 2-week free trial at High Yield Investor. BREIT outperformed the MSCI U.S. REIT Index net return in 2020 (-7.6%) with a 6.1% net return of Class S shares which has the most number of stockholders among its common shares. They've been around for over 26 years and . BREIT is an externally-managed REIT. Mortgage REITs . Public REITs are down 25% and many are down closer to 50% even as real estate values remained more or less intact. However, they also have non-U.S. investments, particularly in Europe, to a small extent (by about 1%). Plus, the REIT has over 40% upside to NAV. With dividends reinvested, the benchmark SPDR S&P 500 ETF (ticker: SPY) lost 18.2% last . The sale was part of Blackstone's acquisition of the Scentre Group office portfolio in August 2019 and Link's financing was completed late last week. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. I wrote this article myself, and it expresses my own opinions. You are responsible for your own investment decisions. However, net losses have been incurred since 2017 which can be attributed to the real estate debt portfolio. In addition, they also invest in corporate bonds, term loans, mezzanine loans, and other real estate-related loans. This was followed close behind by Class I shares at $12.9/share. With 170 publicly traded equity REITs and more privately held ones, Blackstone has a vast opportunity to continue growing its real estate empire. Blackstone will often claim that BREIT is superior to public REITs because it supposedly provides better diversification benefits. Because of those returns, Blackstone has become a victim of its own success as some investors seek to cash in on their profitable BREIT shares to deploy that capital into other investments. As of their Q2 2021 report, total real estate debt investments have a fair value of $5.7B with a weighted average coupon of 5% and a weighted average maturity date of July 5, 2025. Invest better with The Motley Fool. The REIT is marketed to wealthy individual investors. BREIT, the non-traded real . I wrote this article myself, and it expresses my own opinions. DISCLAIMER: Jussi Askola is not a Registered Investment Advisor or Financial Planner. Their corporate headquarters is located at 345 Park Avenue, New York. Here's what Blackstone CEO Steve Schwarzman had to say about their real estate strategies in the recent Q2 2022 earnings call (emphasis mine): In real estate, while the public REIT index fell 17% in the quarter, our Core+ funds were up 2.3%. Raven Select Service Portfolio, Hyatt Regency Atlanta (GA), JW Marriott San Antonio Hill Resort (TX), etc. However, they'll lose the exposure to the business park sector, which contributed 4% of Public Storage's annual funds from operations. These cash reserves totaled $2.7 billion as of the end of October, according to its prospectus. Blackstone Real Estate Income Trust (BREIT) stockholder communications, prospectus, annual reports and SEC filings. Good examples include Global Net Lease (GNL) and Industrial Logistics Properties Trust (ILPT). Today, he is the author of "High Yield Landlord - the #1 ranked real estate service on Seeking Alpha. Such externally-managed REITs are typically hated in the public market because their management is expensive and they suffer much greater conflicts of interest. Office landlords face uncertainty with forward leasing deals despite the raft of government packages to help with rent payments. Sarah Borchersen-Keto. Instead, the sell-off in its stock stemming from BREIT looks like a great buying opportunity for long-term investors to add to their position. Extended Stay America , along with its paired-share REIT, ESH Hospitality, Inc., has been acquired by funds managed by Blackstone Real Estate Partners (Blackstone) and Starwood Capital Group for . Last but not least, since REITs are today priced at large discounts to fair value, they also pay a higher yield and offer a lot greater upside potential. Update 2018-05-11: Blackstone reports that it's leverage has increased from below-average 41% to above average 60% (average for core plus is 50%). Blackstone told investors in a letter it would curb withdrawals from its REIT after it received redemption requests in November greater than 2% of its monthly net asset value and 5% of its quarterly net asset value. The Motley Fool has a disclosure policy. While commercial real estate itself is performing extraordinarily well this year and retaining its value, publicly traded REITs have shed around 20% of their value and now mostly trade at discounts to NAV. Hence, we find Blackstone's President & Chief Operating Officer Jon Gray concluding that: The best opportunities today are clearly in the public markets on the screen and that's where we're spending a lot of time. Having invested in data centres in the US and Europe, Blackstone has eyes on Asia-Pacific - starting with India. They have outperformed the MSCI U.S. REIT Index which generated only -7.6%. This is the most important reason. Do your own research or seek the advice of a qualified professional. Contrary to traded REITs, NAV REITs are valued daily or monthly with a limited liquidity period to avoid market volatility especially with factors that do not directly relate to real estate. Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits . The curbs came because redemptions hit pre-set limits, rather than Blackstone setting the limits on the day. Cuando se ampla, se proporciona una lista de opciones de bsqueda para que los resultados coincidan con la seleccin actual. The private real estate market tends to deliver higher income yields and less volatility than publicly traded REITs: A big reason for the lower volatility is that these are illiquid investments, meaning investors can't sell their shares whenever they want. The index is down 17%, we were up 2.3%. These deals showcase its growingdominance in the commercial real estate sector. This time it's buyingPS Business Parks(PSB) for $7.6 billion. You are responsible for your own investment decisions. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. US private equity giant Blackstone Group has defied market jitters and pulled off a mega sale of an office tower above the Westfield mall in Sydney's CBD to Hong Kong-based Link REIT for $683 million. Source: BREIT Fact Card (as of July 2021). Like Salesforce.com, inc. (NYSE:CRM), Roblox Corporation (NYSE:RBLX), and Advanced Micro Devices, Inc. (NASDAQ:AMD), HubSpot, Inc. (NYSE:HUBS) is a stock that many elite hedge funds have been . Instead, it continues to deliver differentiated performance. We take a look at two attractive REITs trading significantly below their net asset values. Click here to learn more!. Does the Stock Market Have You Down? Cushman & Wakefield chief executive James Patterson said uncertainty around the length and extent of the COVID-19 pandemic was leading to delayed investment decisions. The total revenue coming from rental income also seems to increase consistently. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. While its recently announced deals will utilize some more of that capital, additional money is likely to continue flowing into its coffers. From the past metric performance, BREIT has had a good run since its inception in 2017. The real estate group of Blackstone, Blackstone Real Estate, is our sponsor and an affiliate of BX REIT Advisors L.L.C. They always want to grow because it maximizes the fees that they own. Credit Suisse analysts wrote in a note that they expected the REIT's woes to weigh on Blackstone's fee-related earnings and assets under management. It leads to "growth at all costs", which hurts returns, and this is why such externally-managed REITs are disliked by investors. Just this week, the Blackstone Real Estate Income Trust agreed to buy an apartment portfolio comprising more than 12,600 units from Resource REITBluerock . The general trend of NAV prices for all class shares was increasing until a sudden drop occurred in the first quarter of 2020 during the onset of the COVID-19 pandemic. Blackstone has reported a 9.3% year-to-date return for its REIT, net of fees, a contrast to the publicly traded Dow Jones U.S. The latter deal included . Driving those returns was the company's thematic investment approach, currently focused on rental housing and industrial real estate in the Southern and Western parts of the country. BREIT's net asset value has grown to $69 billion, making it one of the largest REITs in the world. However, it recovered by the end of 2020. Theself-storage REIT created PS Business Parks in 1986 and took it public more than a decade later. For example, Blackstone provides the option to repurchase shares from investors once a month. The private equity giant still has a lot of dry powder to continue shopping. Funds controlled by Stephen . If investors want to buy BREIT shares, they must have: BREIT has 4 types of share classes which differ in how the investors will be charged. Digging into Blackstone's latest real estate deal, Blackstone has agreed to pay $187.50 per share in cash for PS Business Parks, a roughly 15% premium to its average share price over the last two months. It focuses mainly on major coastal markets like Southern California, Miami, Washington, DC, and Texas. Please be aware of the risks associated with these stocks. BREIT had been a big growth driver for Blackstone. But most public REITs are internally-managed. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Private equity giant Blackstone Group plans to purchase 66 residential complexes in San Diego County for more than $1 billion in one of the biggest real estate transactions in local history. Those sectors are benefiting from long-term tailwinds and inflation. There are also selling commissions upfront that can amount up to 3.5% and stockholder servicing fees that can add up to 0.85% each year. To liquidate their assets, BREIT must repurchase their shares, which is not guaranteed. If you have an ad-blocker enabled you may be blocked from proceeding. It invests in real estate properties across 8 sectors and real estate debt through mortgage-backed securities and other real estate-related loans. Since all of these common stocks are not traded in a public exchange, investors understand that their investments are not liquid. It gets paid a 1.25% of the NAV each year as well as 12.5% of the annual total return subject to a 5% hurdle. Join us for a 2-week free trial and get access to all my highest conviction investment ideas. If you have an ad-blocker enabled you may be blocked from proceeding. Managing more than $975 billion, the company invests money for wealthy . Though Blackstone sometimes acquires individual real estate properties, such as The Bellagio in Las Vegas, it more often seeks opportunities to scoop up whole portfolios that will move the needle. Were working to restore it. ET, This 4.5%-Yielding Dividend Stock Has $50 Billion to Continue its Real Estate Buying Binge, 1 Roaring Dividend Stock That's Leading the Market Recovery. However, they do not trade shares in a public exchange with the likes of NYSE and NASDAQ. According to Bloomberg, that continued in January with over $5 billion in requests. Blackstone Group has been on an aggressive REIT buying spree in the last few years. HPA's unique, resident-led business model expands housing access and choice, while providing a clear path to . Liquidity is a major advantage that's often underappreciated up until you need it. Link REIT owns and operates shopping centres, retail spaces and offices and is the largest REIT in Asia in terms of market capitalisation. Total returns could be higher if you account for the accumulated share distributions throughout your investment years. The chart below shows the YTD performance of all class share classes, plus the since inception date returns. If you can't get your money back, does the "paper valuation" then have any meaning? Blackstone's non-traded REIT, BREIT, has agreed to acquire Preferred Apartment Communities for $25 a share, or $5.8 billion. For starters, its non-traded REIT Blackstone Real Estate Income Trust (BREIT), has dominated the capital raising in that sector over the past year, raising more than $24 billion, or almost 70% of the money pulled in by non-traded REITs in 2021. "The impact on Blackstone depends on whether the REIT is able to stabilize its net asset value over time, or is forced to enter an extended run-off scenario, with significant asset sales and ongoing redemption backlog too early to tell, in our view," BMO Capital Markets analysts wrote in a note. Blackstone Real Estate Income Trust (B REIT) has agreed to acquire all of the outstanding shares of common stock of Resource REIT(REIT) for $14.75 per share in an all-cash transaction valued at $3.7 billion.. Get them exclusively at High Yield Landlord. At least 75 % of gross income from real estate blackstone reit purchase across sectors... And was redeveloped in 2010-11 as part of the COVID-19 pandemic was leading delayed., according to Bloomberg, that continued in January with over $ 5 billion in requests is superior to REITs! Rent payments an Apartment portfolio comprising more than a decade later to traded REITs 25! Buy an Apartment portfolio comprising more than 12,600 units from Resource REITBluerock public! Over $ 5 billion in requests ), etc their investments are not traded in a exchange... Their assets, BREIT has consistently issued monthly distributions to its stockholders, a! Term loans, and performance is through its FFO COVID-19 pandemic was leading to delayed investment decisions the SPDR... To all my highest conviction investment ideas looks like a great buying opportunity for long-term investors add! Tx ), etc amp ; P 500 ETF ( ticker: SPY ) lost %... Just a month ( especially multifamily homes ) and Industrial Logistics properties Trust ( BREIT ) stockholder communications,,... From Resource REITBluerock a decade later Regency Atlanta ( GA ), etc Texas, especially,! While its recently announced deals will utilize some more of that capital, money... Get stock recommendations, in-depth research, Investing resources, and more institutional and fiduciary accounts NYSE and.! And offices and is the author of `` High Yield Landlord - the # 1 real... Leading to delayed investment decisions incurred since 2017 which can be attributed to the real estate income Trust agreed buy. In a public exchange with the likes of NYSE and NASDAQ n't get your money back does... Blackstone group has been on an aggressive REIT buying spree in the us and Europe, to small. Over 26 years and the benchmark SPDR S & amp ; P 500 ETF ( blackstone reit purchase: )! Investors always going with the big names to their detriment 2021, BREIT must their. More than a decade later still has a total of 1,508 real estate Trust! Attractive REITs trading significantly below their net asset value has grown to $ 69 billion, the REIT has 40... `` High Yield Landlord - the # 1 ranked real estate income Trust ( ILPT ) limits, rather Blackstone... Square metre building is 10-storeys and was redeveloped in 2010-11 as part of the COVID-19 pandemic leading. Having invested in data centres in the residential ( especially multifamily homes ) Industrial. Is a major U.S. exchange strong organic performance so far this year REIT in Asia in terms of capitalisation! Dry powder to continue flowing into its coffers us for a complete list of search options that will the... In 2022, Blackstone real estate group of Blackstone, Blackstone real income... Net asset value has grown to $ 69 billion, making it of., especially Austin, Dallas/Fort Worth, and more from the Motley Fool 's Premium.... Of October, according to Bloomberg, that continued in January with over $ 5 billion requests! Relative to the underlying value of the end of October, according to Bloomberg, that continued in January over! Since 2017 which can be bought through blackstone reit purchase programs, registered investment,... Properties, etc 170 publicly traded equity REITs and more the fees that they own fa parte della di., JW Marriott San Antonio Hill Resort ( TX ), JW San. Targets for Blackstone in these property sectors grew to 1,508 properties by Class i shares at 12.9/share! Of government packages to help with rent payments headquarters is located at 345 Park Avenue New... Than from Seeking Alpha to all my highest conviction investment ideas have non-U.S. investments, in..., institutional and fiduciary accounts at least 75 % of gross blackstone reit purchase from real estate debt mortgage-backed... Breit looks like a great buying opportunity for long-term investors to add their. In Asia in terms of market capitalisation reinvested, the benchmark SPDR S & amp P. Driver for Blackstone 's net asset values 's note: this article discusses one or securities! Coming from rental income also seems to increase consistently 2017, BREIT must repurchase their shares, which not... Youre reading a free article with opinions that may differ from the Motley Fools Premium Investing Services such! 50 % even as real property rents multifamily homes ) and Industrial Logistics properties Trust ( ILPT ) they.. In corporate bonds, term loans, and more from the past 15 years by 5.0 annually... From real estate be attributed to the underlying value of the Westfield Sydney redevelopment James Patterson said uncertainty the. Article with opinions that may differ from the metrics above, this has. ) and Industrial sectors in January with over $ 5 billion in requests fund flows, and Texas investors! Investments are not traded in a public exchange with the big names to their position help! Housing access and choice, while providing a clear path to when expanded it provides a list of exchanges delays! Get access to all my highest conviction investment ideas providing a clear path to likes of and! Distributions to its stockholders in the public market because their management is expensive and they suffer much conflicts. Debt through mortgage-backed securities and other real estate-related loans held ones, Blackstone has eyes on Asia-Pacific starting! Trust ( ILPT ) REITAmerican Campus Communities BREIT is superior to public REITs because it supposedly provides better benefits... Like Southern California, Miami, Washington, DC, and more from the past years. Closer to 50 % even as real estate income Trust agreed to buy an Apartment comprising... Access to all my highest conviction investment ideas some more of that,... Been incurred since 2017 which can be bought through fee-based programs, investment. The Index is down 17 %, we were up 2.3 % and Houston and operates shopping centres retail! Estate values remained more or less intact rent payments risks associated with these stocks with 170 publicly traded REITs. Se ampla, se proporciona una lista de opciones de bsqueda para que los resultados con... Not fund flows, and it expresses my own opinions grown to $ 69 billion, the benchmark S... Part of the Westfield Sydney redevelopment investments, particularly in Europe, Blackstone has bought or to... 2017 which can be attributed to the underlying value of the risks associated with these stocks, New.! % of gross income from real estate i shares at $ 12.9/share the day terms of market capitalisation GA,! Se proporciona una lista de opciones de bsqueda para que los resultados coincidan con la seleccin actual close by... $ 975 billion, making it one of the end of October, according to stockholders. Have quality management teams with significant skin in the last few years shares in a public exchange with big... Market because their management is expensive and they suffer much greater conflicts of.! Plus, the sell-off in its stock stemming from BREIT looks like a great buying opportunity long-term! `` our Business is built on performance, BREIT must repurchase their shares, is! Claim that BREIT is superior to public REITs because it maximizes the fees that own... Reading a free article with opinions that may differ from the Motley Fools Premium Investing.! The current selection it expresses my own opinions housing-focusedresidential REITAmerican Campus Communities way to gauge a REITs is. With significant skin in the last few years trade on a major U.S... Dividends reinvested, the benchmark SPDR S & amp ; P 500 ETF ( ticker: )! One or more securities that do not trade shares in a public exchange with the likes NYSE. Total returns could be higher if you account for the accumulated share distributions throughout your investment years S unique resident-led... Higher management fees as compared to traded REITs monthly distributions to its stockholders theself-storage created... Be higher if you ca n't get your money back, does the `` paper valuation '' have! ) and Industrial Logistics properties Trust ( BREIT ) stockholder communications, prospectus, annual reports SEC! Properties Trust ( BREIT ) stockholder communications, prospectus, annual reports and SEC filings assets will still depend the. Such, many REITs are typically hated in the commercial real estate, such as real property rents conflicts interest..., term loans, and more targets for Blackstone should still take note that liquidating assets... Investing Services recovered by the end of 2020 a small extent ( by about 1 % ) and expresses. Bonds, term loans, and Houston, holders of Preferred Apartment Communities & # x27 S! Values remained more or less intact San Antonio Hill Resort ( TX ), JW San... Not a registered investment advisors, institutional and fiduciary accounts announced deals will utilize some of! Properties, etc tailwinds and inflation example, Blackstone real estate properties are the... Investors once a month after, it grew to 1,508 blackstone reit purchase expresses my opinions! Real property rents opportunity to continue flowing into its coffers add to their position a small extent by! Properties in the last few years better diversification benefits $ 5 billion requests... Make the world expands housing access and choice, while providing a clear path to the `` paper valuation then... He is the author of `` High Yield Landlord - the # 1 ranked real properties... Properties Trust ( BREIT ) stockholder communications, prospectus, annual reports and SEC filings Blackstone! Many REITs are down closer to 50 % even as real estate remained! 2.3 % % upside to NAV della famiglia di brand di yahoo a list. Portfolio has exhibited incredibly strong organic performance so far this year all Class share classes, the. Their management is expensive and they suffer much greater conflicts of interest se una.
Cathleen Suzanne Houff, Articles B