The fund’s muted results in 2023 shows that BREIT hasn’t been immune to rising interest rates and a slowing property market that has pressured returns. — Bloomberg
NEW YORK: A Blackstone Inc real estate trust for wealthy investors notched a 0.5% loss in 2023, the lowest annual return since its 2017 debut.
Blackstone Real Estate Income Trust’s (BREIT) gains fell short of the threshold that would allow the asset manager to partake in profits. The firm can take a share of total returns as long as BREIT delivers at least 5% for the year.
