Blackstone’s BREIT Limits Withdrawals Again as Backlog Eases

Blackstone Inc.’s $64 billion real estate trust limited investors’ ability to withdraw all the money they wanted for the 13th straight month, but signaled that its backlog is easing.

Blackstone Real Estate Income Trust’s investors asked to cash out $1.8 billion in November, according to a letter to shareholders on Friday. The fund fulfilled 67% of their requests. Demand for redemptions is at its lowest since September 2022.

The real estate trust has been limiting withdrawals after investors became antsy about property markets late last year and ratcheted up requests for cash. Blackstone has said the fund is working ...