Blackstone has decided todissolve its Blackstone RealEstate Income Fund and related entities, which invest primarilyCMBS, RMBS and mezzanine debt, although recently it has built up astrong cash position, according to a regulatory statement.
In the coming weeks, Blackstone expects to seek shareholderapproval of the proposed dissolution. Blackstone "believes that anorderly wind down would provide shareholders with the best path tomaximize portfolio recovery while also providing shareholders withliquidity," according to the regulatory statement.
At $550 million NAV, the fund represents a small portion ofBlackstone's real estate assets under management.
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