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

Blackstone Inc.’s $70 billion real estate trust for wealthy individuals limited redemptions for a sixth straight month.

Investors asked to redeem $4.5 billion in April from Blackstone Real Estate Income Trust, the same amount shareholders sought to pull in March, according to a letter Monday. BREIT allowed $1.3 billion to be withdrawn, or about 29% of the amount requested.

“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 high-quality real estate as a core portfolio holding,” according to the letter. ...