The nontraded REIT paid out more than $2.8B in dividends over 2023 but only brought in $2.7B in cash flow.
The move comes after the nontraded REIT recorded its worst year for annual returns in 2023.
Blackstone Real Estate Income Trust's returns fell well short of the 5% annual gain mark that would enable it to take a share of profits.
Wesley LePatner will take over the $56B nontraded REIT after CEO Frank Cohen retires at the end of the year.
This is the third time in four months that requests have exceeded the company's stated withdrawal limits.
The investment giant's flagship real estate fund returned 1.95% in 2024. Executives say a recovery is underway, although they acknowledged the slow pace.
Robert Harper has taken the top spot at one of Blackstone's premiere funds ten days after the former CEO was killed in a mass shooting at the office.
Blackstone's flagship real estate fund raised $7.2B in new capital and returned 8% to investors in 2025 after two lackluster years.
Blackstone's flagship real estate fund gained 8.1% in 2025, leveraging its 2021 acquisition of data center firm QTS to power growth.
BREIT raised 44% more year-over-year in Q1, and the fund had positive net inflows for the final two months of the quarter.
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