For the fifth month in a row, Blackstone’s Real Estate Income Trust (BREIT) faced an onslaught of redemption requests in March from investors, who since the beginning of November have put in multibillion-dollar requests each month to pull their money out of the $70B fund.

In a letter to shareholders on Monday, the company disclosed it received $4.5B in redemption requests in March, an increase over February’s total of $3.9B. In the letter, BREIT noted that the surge came “in a month of tremendous market volatility and broad-based financial stress.”

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