In what may be a sign that a tide of redemption requests has begun to ebb at Blackstone's Real Estate Income Trust, the REIT reported a significant drop in requests in June.
In a letter to shareholders this week, BREIT said it received $3.8B in requests for withdrawals from the $70B fund in June, nearly a third lower than the peak reported in January.
"In June 2023, BREIT received $3.8 billion in requests under the Repurchase Plan, which is 29% lower than the peak in January 2023 and the lowest month of repurchase requests this year," the firm said in the letter.
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