BREIT, Blackstone’s $57bn non-traded real estate investment trust, will meet investors’ redemption requests in full for June, despite the withdrawals exceeding the fund’s own quarterly limit on how much money can leave the fund.
The fund has a redemption policy that allows for 2% of its net asset value (NAV) to be redeemed per month, and a total of 5% per quarter.
As a result of this policy, in the face of elevated redemption requests, the fund prorated redemptions for 15 months from November 2022 through January of this year.
