The stream of monthly redemption requests from Blackstone Real Estate Income Trust (BREIT), which in January 2023 peaked at $5.3B, rapidly is drying up, with December's total of $1.1B a 41% decline over the November amount.
"We were pleased to see December repurchase requests continue the monthly decline, [which is] 80% lower than the January 2023 peak. This is the lowest month of repurchase requests and the first month repurchase requests fell below the 2% monthly limit since September 2022," Blackstone said, in a statement provided to GlobeSt.com.
Since November 30, 2022, when BREIT began exercising its right to limit withdrawals after requests exceeded 5% of the net asset value of the fund, BREIT has returned $14.3B to investors, the company said in a Jan. 2 letter to shareholders.
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