As the private equity firm continues to deal with a flood of redemption requests, Blackstone Inc said on Wednesday that it had barred clients from paying out their assets in its $71 billion real estate income trust (BREIT).
BREIT said in a statement to clients that it completed $1.4 billion in redemption requests in February, accounting for only 35% of the total $3.9 billion in withdrawal requests for the month.
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According to the company, total BREIT redemption requests hit roughly $5.3 billion in January, which is 26% less than the amount received in February.
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Blackstone blocked investor withdrawals from $71 billion REIT in February https://www.msn.com/en-ca/money/topstories/blackstone-blocked-investor-withdrawals-from-71-billion-reit-in-february/ar-AA186mhb?ocid=mailsignout&pc=U591&cvid=474ec7151039446e91f8f865e2aa2adf&ei=18