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BREIT, by far the largest nontraded REIT, has already moved to sell assets as it faces unprecedented redemption requests.
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Blackstone acquired the building as part of its acquisition of Preferred Apartment Communities.
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BREIT sells off yet another asset, trading its 22% stake as Vegas heats back up.
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Fundraising for nontraded REITs has plunged in the last year.
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BREIT lined up a $845.2M refinancing deal for a 12-property multifamily portfolio it acquired 98% of from Cortland Sponsors LLC in 2021.
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The Hotel Brexton and The Inn at the Colonnade are up for sale.
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Office leasing activity in Center City Philadelphia tapered off in Q3 despite strong citywide job numbers, according to a report from JLL.
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The addition of BREIT to LODAS Markets' secondary marketplace offers new options for investor liquidity beyond redemptions.
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