It was designed with a semi-liquid structure, but the Blackstone Real Estate Income Trust (BREIT) fund finally delivered full liquidity to investors who requested redemptions in February.
After more than a year of proration, BREIT reported in a March 1 letter to shareholders that it fulfilled 100% of the redemption requests it received last month.
"We are pleased to report that BREIT fulfilled 100% of repurchase requests in February," the letter said. "BREIT was designed with a semi-liquid structure, trading a measure of liquidity for the potential for higher net returns. We could not be more proud that this structure has worked as intended to both prevent a liquidity mismatch and maximize long-term shareholder value."
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