BREIT Limits Withdrawals for Eighth Month With Signs of Easing

Blackstone Inc.’s giant real estate trust for wealthy individuals limited withdrawals for an eighth straight month with signs that the backlog of redemption requests is easing.

Investors asked to cash out $3.8 billion in June from Blackstone Real Estate Income Trust, according to a letter Monday. BREIT returned about $628 million, or about 17% of what was requested. Redemption requests were down 29% from the peak in January and were the lowest this year.

The $68 billion fund’s rapid growth turned it into a crown jewel for Blackstone. Starting last year, the line of people seeking to pull ...