Blackstone’s BREIT Limits Withdrawals for a Seventh Month (1)

Blackstone Inc.’s $69 billion real estate trust for wealthy individuals limited redemptions for a seventh straight month.

Investors asked to redeem $4.4 billion in May from Blackstone Real Estate Income Trust, compared with $4.5 billion in April, according to a letter Thursday. BREIT allowed $1.3 billion to be withdrawn, or about 30% of the amount requested. The fund has the option to limit redemptions of 2% of its value each month.

“We remain confident that BREIT’s portfolio will continue to be well-positioned to deliver strong long-term performance and consistent distributions, while providing investors access to the diversification benefits of ...