It's beginning to look like the tide has turned on the wave of redemption requests from Blackstone Real Estate Income Trust (BREIT) fund investors: what seemed like a flood at the beginning of the year now resembles a very manageable stream.
In a December 1 letter to shareholders, BREIT reported that its received $1.8B in redemption requests in November, an 18% drop from the previous month and a 66% decline from January, when the withdrawal requests peaked.
In the clearest sign that BREIT now is ahead of the curve on redemption requests, the $70B fund said in the Dec. 1 letter it was able to fulfill 67% of last month's requests, about $1.2B, the highest percentage payout since BREIT began prorating redemptions.
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