Blackstone limited investor withdrawals in February from its Blackstone Real Estate Income Trust (BREIT) fund to 35% of redemption requests, the fourth month in a row that BREIT has blocked the lion's share of withdrawals because requests have far exceeded monthly limits.
The company said Wednesday that BREIT, now estimated to be worth $71B, fulfilled $1.4B out of a total of $3.9B in redemption requests, Reuters reported.
There was a glimmer of good news in the February withdrawals, which BREIT announced in a letter to investors: February's $3.9B total in redemption requests was an improvement on January's total of $5.3B. In January, just 25%, or about $1.3B, of the redemption requests were fulfilled.
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