[cityhantam]

https://www.costar.com/article/146525043...cerns-grow

Blackstone Limits Investor Withdrawals From $145 Billion REIT As Economic Concerns Grow

Requests Jump for Redemptions From Its Nontraded Real Estate Investment Trust

Blackstone has limited withdrawals from its nontraded real estate investment trust after large numbers of investors sought redemptions, making it the latest firm to take such a step as global economic concerns grow.

Blackstone Real Estate Income Trust, also known as BREIT, allowed investors to withdraw $1.3 billion in November. That represented about 43% of the redemption requests it received, according to a report by the Financial Times citing a notice the private REIT sent to investors on Thursday. BREIT had nearly $145 billion in total assets as of Sept. 30.

Investors can redeem up to 5% of their holdings in a quarter, at which point Blackstone can limit withdrawal requests to prevent a forced sale of its real estate holdings.

The move comes as real estate investors express concern about how rising interest rates and an economic slowdown would affect the commercial property market. The Federal Reserve has raised interest rates to record highs this year as inflation remains at relatively high levels.

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Other firms limiting redemptions from funds include London-based asset manager M&G, which restricted institutional investor redemptions from a U.K. property fund. The moves follow Schroders and BlackRock, along with Columbia Threadneedle's, imposing redemption limits on some property funds open to institutional investors.

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However, given increased calls for redemption from investors, BREIT is showing a willingness to sell properties. On Thursday, BREIT announced that it is selling its 49.9% interest in the MGM Grand Las Vegas and Mandalay Bay Resort and Casino real estate to its partner Vici Properties for $5.5 billion.

[Sticw]

Cock and bull story... Wanna sell to take profit from property portfolio before correction just do lah...

[sgbuffett]

It makes no sense to have a non traded REITs with redemptions.

REITs is holding property unlike a unit trust which holds shares. When investors redeem ...you need to sell property in the REITs??

Given redemptions occur during recessions you have to sell property in an illiquid market at bargain basement!

All REITs should be listed on stock market like stocks so that holders can get out by selling to another ....price can drop to lure buyers....no need to sell property

[webinarian]

May be kenna FTX liao.  

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[cityhantam]

Blackstone limits withdrawals from real estate fund as inflows slow
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[cityhantam]

It makes no sense to have a non traded REITs with redemptions.

REITs is holding property unlike a unit trust which holds shares. When investors redeem ...you need to sell property in the REITs??

Given redemptions occur during recessions you have to sell property in an illiquid market at bargain basement!

All REITs should be listed on stock market like stocks so that holders can get out by selling to another ....price can drop to lure buyers....no need to sell property

You seem to be confused! 

Blackstone Group is traded in the stock market but BREIT is a  non-traded real estate investment trust (REIT)!


https://www.fool.com/investing/2022/01/1...raded-rei/

The private equity giant has tapped into retail investors' desires to invest in private real estate.

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[cityhantam]

CK投資理財 | 黑石COO鬼話連篇，卻曝露更大龐氏漏洞！$40億救命錢都堵不上！
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[Bigbluedot]

Wonder gic or Th are adversely affected again? Tax payers money at stack again?

[Notdumb]

Wonder gic or Th are adversely affected again? Tax payers money at stack again?

Maybe a few $b only....sub sub water.

[cityhantam]

Blackstone private equity trader El Gabbani has left the firm

Blackstone Group senior managing director Nadim El Gabbani has left the firm, according to people familiar with the matter. The private equity trader has focused on financial services, business services and technology transactions in New York and London since 2008. It is reported that Gabbani participated in the investment of Blackstone Group in many companies.

According to the disclosure of the fourth quarter financial report, as of December 31 last year, the private equity department of the Blackstone Group managed US$288.9 billion in assets, of which US$86.7 billion had not been invested.