Blackstone Makes Foray into Non-Traded REITs

Blackstone’s Midtown Manhattan headquarters; the company is the world’s largest real estate investor, CEO Stephen Schwarzman said on a Q1 earnings call.

NEW YORK CITY—The Blackstone Group is a launching a non-traded REIT with a fundraising goal of up to $5 billion, according to an SEC filing. To be known as Blackstone Real Estate Income Trust, the perpetual-life fund will invest primarily in income-producing properties across the US, although it will also target real estate-related securities.

“Our investment strategy is expected to capitalize on Blackstone’s scale and the real-time information provided by its real estate holdings to identify and acquire our target investments at attractive pricing,” according to the REIT’s registration statement. “We also expect to benefit from Blackstone’s reputation and ability to transact in scale with speed and certainty, and its long-standing and extensive relationships in the real estate industry.”