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The nontraded REIT paid out more than $2.8B in dividends over 2023 but only brought in $2.7B in cash flow.
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The move comes after the nontraded REIT recorded its worst year for annual returns in 2023.
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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.
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Wesley LePatner will take over the $56B nontraded REIT after CEO Frank Cohen retires at the end of the year.
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This is the third time in four months that requests have exceeded the company's stated withdrawal limits.
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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.
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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.
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Blackstone's flagship real estate fund raised $7.2B in new capital and returned 8% to investors in 2025 after two lackluster years.
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Blackstone's flagship real estate fund gained 8.1% in 2025, leveraging its 2021 acquisition of data center firm QTS to power growth.
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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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