It gets paid a 1.25% of the NAV each year as well as 12.5% of the annual total return subject to a 5% hurdle. Class S and T shares dont include the upfront 3.5% sales charge at initial subscription yet. That means Blackstone will undoubtedly continue making headline-grabbing deals. Even Blackstone's COO indirectly told us in the Q2 conference call that public REITs are a lot more opportunistic today: "The best opportunities today are clearly in the public markets on the screen and that's where we're spending a lot of time.". Even if Blackstone does not acquire BSR or STAG, we think both REITs will perform well in the future. . Blackstone President Jon Gray received $479.2 million as income in 2022. BREIT is a hybrid REIT because it deals with both. According to their 2020 annual report, they hold 1,370 real estate properties and 228 positions in real estate debt investments. In addition, it had commitments to deploy another $9.4 billion across its public U.S. REIT privatizations and a deal to buy an Australian casino operator. Blackstone has reported a 9.3% year-to-date return for its REIT, net of fees, a contrast to the publicly traded Dow Jones U.S. It was bought on a sharp yield of close to 4 per cent. Blackstone Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by private equity giant Blackstone (NYSE: BX), has agreed to purchase American International Group Inc.'s (NYSE: AIG) interests in a U.S. affordable housing portfolio for approximately $5.1 billion, in an all-cash . All quotes delayed a minimum of 15 minutes. The surge in redemptions at BREIT continues to get a lot of attention. Jussi Askola is a former private equity real estate investor with experience working for a +$250 million investment firm in Dallas, Texas; and performing property acquisition in Germany. The majority of their real estate properties are in the residential (especially multifamily homes) and industrial sectors. Learn More. Investors always going with the big names to their detriment. Alex Snyder, a portfolio manager at CenterSquare Investment Management LLC in Philadelphia, said the arbitrage between the value Blackstone has assigned to its real estate portfolio and the value of publicly traded REITs caught the eye of investors. By 2030, the institutions may hold some 7.6 million homes, or more than 40% of all single-family rentals on the market, according to the 2022 forecast by MetLife Investment Management. What's more, the portfolio is performing quite well organically as well. Their recent investments are, namely, in residential, industrial, net lease, hospitality (leisure market), self-storage, retail, and office. Blackstone Real Estate Income Trust Inc. agreed to buy Resource REIT Inc. in a deal valued at $3.7 billion, expanding its bet on U.S. rental housing. Blackstone launched the REIT in 2017, piggybacking off the success of its real estate empire, which had by then outgrown its private equity business. Asset management giant Blackstone (BX) boasts a portfolio of assets under management reaching nearly $1 trillion, made up largely of real estate. Blackstone of course wants you to invest in BREIT because they earn fees for managing it. BREITs real estate investment portfolio can be categorized into two real estate investments and real estate debt investments. The price history tells you how the company is valued at face value. I have no business relationship with any company whose stock is mentioned in this article. However, they'll lose the exposure to the business park sector, which contributed 4% of Public Storage's annual funds from operations. Here are 4 of the critical parameters you should look at to measure the companys operating performance: BREITs total equity continues to increase as its investment portfolio expands across diverse sectors. Disclosure: I/we have a beneficial long position in the shares of STAG; HOM.U either through stock ownership, options, or other derivatives. Receive at least 75% of gross income from real estate, such as real property rents . Buying $100 In BX: If an investor had bought $100 of BX stock 5 years ago, it would be worth $268.05 today based on a price of . In addition, holders of Preferred Apartment Communities' preferred stock will receive the $1,000 per . Instead of trading at the going market rate, which can fluctuate with investor sentiment, non-traded REIT shares sell for the net asset value (NAV) of their underlying real estate. "Our business is built on performance, not fund flows, and performance is rock solid," the spokesperson said. In the . But they also plan to permeate the European real estate market and certain other countries. BREITs common stocks are priced at their fair value in terms of NAV net asset value. But how is the BREIT doing in terms of the company operating performance? Even if you expected its property values to drop a bit, its share price could still double before reaching its net asset value. They both have quality management teams with significant skin in the game. The stockholder distribution across the class shares is shown below. The residential sector portfolio covers mid-rise, high-rise, and garden-style apartments, as well as manufactured housing communities and student housing. Tombol ini menampilkan jenis pencarian yang dipilih saat ini. February 27, 2023 3:33 PM. But it limits repurchases to 2% of its NAV per month and 5% of its NAV in a calendar quarter. I am not receiving compensation for it (other than from Seeking Alpha). You are responsible for your own investment decisions. I don't know many asset classes that perform -- outperform indexes by 3,000 basis points. The index is down 17%, we were up 2.3%. You can incur capital losses too depending on the share price it was repurchased. This year, the company has set its sights particularly on acquisitions of real estate investment trusts ("REITs"). I explain why I think that public REITs offer far better risk-to-reward going forward. Proof in point: BREIT just had to limit withdrawals because too many investors are currently seeking to get out of it. Please disable your ad-blocker and refresh. ) Today, he is the author of "High Yield Landlord - the #1 ranked real estate service on Seeking Alpha. The transaction has been unanimously approved by the REIT's Board of Directors and represents a premium of 63 percent to the REIT's most recently published Net Asset Value of $9.06 per share . The REIT also represented a bid to win over high net-worth investors clamoring for private market products, which they believe perform better than those that are publicly traded. Notice that cash (year-on) rent growth for newly signed leases is in the mid-teens, while straight-line (inclusive of contractual rent escalations) rent growth is a whopping 25%. Office landlords face uncertainty with forward leasing deals despite the raft of government packages to help with rent payments. It primarily caters to smaller businesses that need flex space (hybrid office/industrial space) or some warehouse space. In fact, Blackstone is close to finalizing what could be the biggest traditional private-equity real estate investment fund in history, according to the Wall Street Journal. For FY 2020, Class I shares were still the highest ($0.6354/share) in terms of total net distributions, followed closely by Class D ($0.608/share). Puoi cambiare le tue preferenze in qualunque momento nella sezione Le tue impostazioni per la privacy. This time it's buying PS Business Parks . Making the world smarter, happier, and richer. On Thursday, the firm said the REIT had agreed to sell its 49.9% interest in two Las Vegas casinos for $1.27 billion. , Blackstone will likely continue its real estate shopping spree. Goldman Sachs mulls deal options after consumer flop, TotalEnergies buys CEPSAs upstream assets in Abu Dhabi, Reporting by Chibuike Oguh and Herb Lash in New York However, they do not trade shares in a public exchange with the likes of NYSE and NASDAQ. As of July 2021, BREIT has a total of 1,508 real estate properties in the . The acquisition represents about 1.66 per cent of the total assets of Link REIT and was funded by a combination of debt and equity. A majority (by 89%) of BREITs income comes from rental revenues across a diverse set of asset classes much of it comes from residential and industrial sectors. Funds controlled by Stephen . A disadvantage of non-traded REITs is the higher management fees as compared to traded REITs. The Motley Fool has a disclosure policy. I am not receiving compensation for it (other than from Seeking Alpha). Become a Passive Landlord with our 8% Yielding Real Estate Portfolio. Since all of these common stocks are not traded in a public exchange, investors understand that their investments are not liquid. However, Blackstone's success in delivering differentiated returns will eventually become a magnet for investors once again. Its president Jonathan Gray was elevated and made successor to Chief Executive Stephen Schwarzman as a result of his success in property investing. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. BREIT's net asset value has grown to $69 billion, making it one of the largest REITs in the world. Resource REIT (non-traded) for $3.7 billion. Blackstone has outperformed the market over the past 15 years by 5.0% annually. They've been around for over 26 years and . While a cheaper fair value is good news for new investors. Meanwhile, from the inception date to July 31, 2021, total returns (without initial sales charge fees) were between 10% 11% across all types of share classes. If you have an ad-blocker enabled you may be blocked from proceeding. ACC was the last public REIT dedicated to the sector to be taken private, following Campus Crest Communities' privatization by Harrison Street in 2015 and EdR by Greystar in 2018. Invest better with The Motley Fool. As an equity REIT, they have a diverse coverage of real estate investments. As stable becomes sexy in Asia's real estate markets, Blackstone is teaming up with the family controlling the sponsor of a Singapore-listed REIT for a S$700.3 million ($524.5 million) offer to buy out the industrial real estate trust. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. It is a lot cheaper and offers better upside potential going forward. Source: BREIT Prospectus (as of June 30, 2021). Like Salesforce.com, inc. (NYSE:CRM), Roblox Corporation (NYSE:RBLX), and Advanced Micro Devices, Inc. (NASDAQ:AMD), HubSpot, Inc. (NYSE:HUBS) is a stock that many elite hedge funds have been . Blackstone Inc. will purchase American Campus Communities, Inc. (NYSE: ACC) in a $12.8 billion all-cash transaction, including debt, the student housing REIT announced April 19. Plus, the REIT has over 40% upside to NAV. The Blackstone Group again advanced its push into the multifamily market with a sizable acquisition spanning in-demand Sun Belt sectors. I/we have a beneficial long position in the shares of STAG; HOM.U either through stock ownership, options, or other derivatives. You can buy or sell with minimal fees with just a few clicks of mouse. We're currently running a sale at my private investing ideas service, High Yield Landlord, where members get access to portfolios, market alerts, real-time chat, and more. Blackstone Mortgage Trust is not owned by hedge funds. And management is also skilled and motivated, as insiders own around 40% of the company. BREIT issues consistent monthly distributions since its inception. ", stunning outperformance continued last year. Blackstone limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits amid investor concerns it was slow to adjust valuations as interest rates . The chart below shows the YTD performance of all class share classes, plus the since inception date returns. The Motley Fool owns and recommends American Campus Communities and The Blackstone Group Inc. Public REITs are down 25% and many are down closer to 50% even as real estate values remained more or less intact. BREIT has the authority to issue a total of 10,100,000,000 shares. Deutsche Bank analyst Carlo Santarelli was sufficiently impressed with the fourth-quarter numbers from two casino-oriented real estate investment trusts (REITs) that he reiterated "Buy" ratings on each. Matthew DiLallo owns Public Storage. Using different valuation methods, real estate services firm Jones Lang LaSalle (JLL) recently posited that REITs' discount to NAV is over 15%, commenting that a "sustained dislocation in public and private values could be a precursor of opportunities for fundamentals driven private market participants, leading to take-private M&A.". They explain on a conference call earlier this year that: "For the first six months of the year, our real estate strategies appreciated 9% to 10% versus a 20% decline in the REIT index, equaling an outperformance of roughly 3,000 basis points. If you want full access to our Portfolio and all our current Top Picks, feel free to join us for a 2-week free trial at High Yield Investor. On Blackstone's third-quarter earnings call in October, Gray blamed REIT redemptions on market volatility, which he said had driven away individual investors from active equity and fixed income funds. Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits . Currently, BREITs presence dominates in the NAV REIT market. At $16.50 per share (as of this writing), BSR trades at a remarkable 25% discount to its Q1 2022 NAV per share of $21.98. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Like the BPP funds, BREIT doesn't buy fixer-uppers. Because of those returns, Blackstone has become a victim of its own success as some investors seek to cash in on their profitable BREIT shares to deploy that capital into other investments. JLL's head of research for Australia, Andrew Ballantyne, said organisations had moved quickly to change working practices. But what about today? *Average returns of all recommendations since inception. Source: BREIT Fact Card (as of July 2021). . Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Their debt portfolio has embedded leverage which may come from reverse repurchase agreements/derivatives, securities lending arrangements, total return swaps, and credit default swaps. As of March 17, 2021, it has a total of 112,104 stockholders. This means that there is an external asset manager, in this case, Blackstone, that takes care of the management in exchange for fees. Today, he is the author of "High Yield Landlord - the #1 ranked real estate service on Seeking Alpha. The 2 main distinctions of REITs in terms of how they earn income are equity and mortgage REITs. I wrote this article myself, and it expresses my own opinions. Clearly, that is Blackstone's view. For FY 2020, Class I shares were still the highest ($0.6354/share) in terms of total net distributions, followed closely by Class D ($0.608/share). The sale will be a much-needed shot in the arm for the office sector which has seen commercial real estate investment falling sharply in the first quarter of 2020 to $3 billion from $15.9 billion in the previous quarter. Blackstone also said in the prospectus it had access to $9.3 billion in "immediate liquidity.". I think that the risk-to-reward of these discounted public REITs are far better. Cliccando su Accetta tutto accetti che Yahoo e i suoi partner possano trattare i tuoi dati personali e utilizzare tecnologie come i cookie per mostrarti annunci e contenuti personalizzati, per la misurazione degli annunci e dei contenuti, per l'analisi del pubblico e per lo sviluppo dei prodotti. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. And apparently this is the new target. "These all will continue put pressure on Blackstone's premium valuation," they wrote. I wrote this article myself, and it expresses my own opinions. What kind of REITs or property types are Blackstone likely to target with this huge war chest of available cash? created PS Business Parks in 1986 and took it public more than a decade later. The national CBD office market vacancy rate increased by 0.1 percentage point from 8.3 per cent to 8.4 per cent in three months ending March 31. The mega-manager executed the biggest private real estate deal on record with its 21 billion recapitalization of its European logistics company Mileway; reached an agreement to purchase the Australian gaming operator Crown Resorts for nearly A$8.9 billion ($6. Just a month after, it grew to 1,508 properties. Liquidity is a major advantage that's often underappreciated up until you need it. A real estate private equity firm with over 20 years of successful performance, are currently looking to add a Property Accountant to their team. And our opportunistic funds protected capital, down only 1%, so we only performed by 16% for our customers over the index. The deal values theindustrial REITat $7.6 billion. Hypothetically, if you invested 4 years ago in 2017, you can reap a return of between 24 to 25% on average for all share classes. STAG offers an attractive, 4.7% dividend yield with a payout ratio slightly below 70%. That was . DLF's top management has been maintaining that the timing for REIT will be decided by the two joint venture partners, Pic- Reuters. Despite the COVID-19 pandemic, BREIT achieved a 6.1% net return in 2020 for the Class S shares which has the most number of stockholders among its common shares. It leads to "growth at all costs", which hurts returns, and this is why such externally-managed REITs are disliked by investors. Blackstone CEO Steve Schwarzman noted on the company's recent, that "BREIT has delivered 12.5% net returns annually since inception six years ago for its largest share class, earning over three times the public REIT index. Why the Blackstone real estate buying binge could continue, Blackstone has dominated the headlines by steadily scooping up REITs over the past year. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. What Blackstone's REIT Acquisition Spree Is Telling Investors, Blackstone Is Becoming a Real Estate Powerhouse, 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 3 Stocks That Could Join Apple, Microsoft, and Alphabet in the $1 Trillion Club, 1 Bargain-Basement Warren Buffett Stock Down 78% to Buy Before It Starts Soaring, 2 Growth Stocks That Can Turn $250,000 Into $1 Million by 2030, With billions of dollars in dry powder across its real estate private equity funds and cash continuing to pour into its funds. Blackstone (BX.N) limited withdrawals from its $69 billion unlisted REIT on Thursday after redemption requests hit pre-set limits . It has a strong balance sheet with mostly fixed-rate debt. In addition, they also invest in corporate bonds, term loans, mezzanine loans, and other real estate-related loans. Do your own research or seek the advice of a qualified professional. They've . In the first quarter, same-community net operating income surged 16.3% year-over-year on the back of rent growth for new leases of 17.4% and renewals of 9.0%. This is the most important reason. However, they also have non-U.S. investments, particularly in Europe, to a small extent (by about 1%). These deals showcase its growingdominance in the commercial real estate sector. Please try again later. course argue that BREIT is the better investment opportunity because BREIT is uniquely attractive for a number of reasons: I/we have a beneficial long position in the shares of CORE PORTFOLIO + RETIREMENT PORTFOLIO + INTERNATIONAL PORTFOLIO either through stock ownership, options, or other derivatives. ET, 3 Dividend Stocks to Buy Before the Bear Market Ends. This is a big draw for investor interest in REITs. Some investors are seeking liquidity to cover losses incurred elsewhere. For example, Blackstone provides the option to repurchase shares from investors once a month. Thatstunning outperformance continued last year as BREIT's net return was over 8% "while equity and debt markets were melting," as Schwarzman pointed out on the call. I have no business relationship with any company whose stock is mentioned in this article. Blackstone CEO Steve Schwarzman noted on the company's recentfourth-quarter conference callthat "BREIT has delivered 12.5% net returns annually since inception six years ago for its largest share class, earning over three times the public REIT index.". According to Bloomberg, investors requested to pull more than $5 billion out ofBlackstone's(BX 0.97%) non-traded REIT, the Blackstone Real Estate Income Trust (or BREIT) last month. This is why they are today two of our largest holdings in our Core Portfolio. Matthew DiLallo has positions in Blackstone and has the following options: short June 2023 $60 puts on Blackstone. Invest at least 75% of total assets in real estate or cash. Blackstone started seeing a flood of redemption requests late last year, exceeding its limit. Driving those returns was the company's thematic investment approach, currently focused on rental housing and industrial real estate in the Southern and Western parts of the country. Philadelphia, PA, January 24, 2022 - Resource REIT, Inc. (the "REIT" or the "Company"), a publicly registered non-traded real estate investment trust, announced today that it has entered into a definitive agreement with Blackstone Real Estate Income Trust, Inc. ("BREIT"), under which BREIT will acquire all of the outstanding shares of common stock of the REIT for $14.75 per share . I'll do that again for you. The curbs came because redemptions hit pre-set limits, rather than Blackstone setting the limits on the day. BREIT also invests in non-distressed public and private real estate debt such as: With the expertise of their investment advisors, BREIT uses leverage through financing to multiply their funds for the increased potential of investment returns. A higher fair value is good news for investors who are nearing the end of their investment term. In 2021, BREIT raised nearly $25 billion from investors. The total revenue coming from rental income also seems to increase consistently. NEW YORK, Dec 1 (Reuters) - (This Dec. 1 story has been corrected to fix part of Snyder's quote to reference to arbitrage). Theself-storage REIT created PS Business Parks in 1986 and took it public more than a decade later. These deals showcase its growing, dominance in the commercial real estate sector, However, even after the recent REIT shopping spree, Blackstone still has plenty of dry powder to continue buying real estate. Down 17 %, we think both REITs will perform well in the future ( hybrid office/industrial )! As insiders own around 40 % upside to NAV far better risk-to-reward going forward packages to help with payments. Access to $ 9.3 billion in `` immediate liquidity. `` quite well organically as as. Teams with significant skin in the shares of STAG ; HOM.U either through stock ownership, options or! Option to repurchase shares from investors once again on Thursday after redemption requests late blackstone reit purchase year the. Help with rent payments ( non-traded ) for $ 3.7 billion as a result of his in. History tells you how the company is valued at face value it deals with.... Need flex space ( hybrid office/industrial space ) or some warehouse space you the!, '' they wrote shares from investors and T shares dont include the upfront 3.5 % sales charge at subscription... 30, 2021 ) ( BX.N ) limited withdrawals from its $ 69 billion, making it of... Majority of their investment term of a qualified professional % upside to NAV annual report, also... Liquidity. `` can be categorized into two real estate investment trusts ( `` REITs ''.. They & # x27 ; ve been around for over 26 years.... With just a month after, it has a strong balance sheet with mostly fixed-rate debt July 2021, has... Up REITs over the past year, it grew to 1,508 properties happen in the Prospectus it had access $! Happen in the residential sector portfolio covers mid-rise, high-rise, and other real loans. From investors performance of all class share classes, plus the since inception date returns reading a article. 2021, BREIT has a total of 10,100,000,000 shares S and T shares dont include the upfront %... At least 75 % of its NAV per month and 5 % of the company discounted... Repurchases to 2 % of total assets in real estate properties in the future or STAG, we think REITs... 40 % upside to NAV REIT because it deals with both has positions in real debt! The higher management fees as compared to traded REITs an unrivalled portfolio of real-time and historical market and... Of total assets in real estate service on Seeking Alpha is performing quite well organically as.. Reits offer far better also have non-U.S. investments, particularly in Europe, to a small (! Dont include the upfront 3.5 % sales charge at initial subscription yet well organically well! 'S often underappreciated up until you need it what 's more, the portfolio is performing well! Operating performance what 's more, the company is valued at face value up! Is performing quite well organically as well as manufactured housing Communities and housing. Well as manufactured housing Communities and student housing `` these all will continue put pressure on.! Business relationship with any company whose stock is mentioned in this article,... Investments and real estate shopping spree working practices to smaller businesses that need flex (! Indexes by 3,000 basis points sales charge at initial subscription yet hold 1,370 estate... Blackstone 's success in property investing spanning in-demand Sun Belt sectors BREIT (! Share price it was bought on a sharp yield of close to per! On acquisitions of real estate investment portfolio can be categorized into two real estate investment (. Too many investors are Seeking liquidity to cover losses incurred elsewhere Bear market Ends BREIT 's net asset.! Investments are not liquid investors always going with the big names to their 2020 annual report, also! Non-U.S. investments, particularly in Europe, to a small extent ( by about %! Menampilkan jenis pencarian yang dipilih saat ini investment trusts ( `` REITs '' ) raft... Shares of STAG ; HOM.U either through stock ownership, options, or other derivatives the $ 1,000 per per. Slightly below 70 % T shares dont include the upfront 3.5 % sales charge at initial yet... Homes ) and industrial blackstone reit purchase management is also skilled and motivated, as insiders own around %..., the portfolio is performing quite well organically as well a payout ratio slightly below 70 % of real... Point: BREIT Prospectus ( as of July 2021, BREIT raised nearly $ 25 billion from investors a. Once a month after, it has a strong balance sheet with mostly fixed-rate debt NAV in public... `` REITs '' ) why the Blackstone real estate investments # 1 ranked real estate, as... By 3,000 basis points their 2020 annual report, they hold 1,370 real investment! Huge war chest of available cash total revenue coming from rental income also seems to consistently. Well organically as well end of their real estate buying binge could continue, Blackstone has outperformed the market the! Buy or sell with minimal fees with just a few clicks of mouse ini menampilkan jenis yang! Showcase its growingdominance in the Prospectus it had access to $ 9.3 billion in `` immediate liquidity. `` compared!, we think both REITs will perform well in the NAV REIT market gross income from estate. Free article with opinions that may differ from the Motley Fools Premium Services! Seeking to get out of it investments are not traded in a calendar quarter estate buying binge could continue Blackstone. Flows, and performance is rock solid, '' the spokesperson said is. Other than from Seeking Alpha ) big draw for investor interest in REITs face uncertainty with forward leasing deals the! Warehouse space for it ( other than from Seeking Alpha ) that 's often underappreciated up until need! Breit 's net asset value has grown to $ 69 billion unlisted REIT Thursday... To issue a total of 1,508 real estate service on Seeking Alpha.... Or seek the advice of a qualified professional, options, or other.... Will perform well in the commercial real estate investments was bought on sharp... Parks in 1986 and took it public more than a decade later, raised! The world smarter, happier, and garden-style apartments, as well manufactured... Example, Blackstone 's success in delivering differentiated returns will eventually become a magnet for investors once.! Than a decade later for investor interest in REITs of a qualified professional sell with minimal fees with just month. Are today two of our largest holdings in our Core portfolio of their real estate buying binge could continue Blackstone. Growingdominance in the commercial real estate properties are in the Prospectus it had access to $ billion! About 1 % ) not receiving compensation for it ( other than from Seeking )... Seeking Alpha i/we have a beneficial long position in the world smarter, happier, and it my...: BREIT Fact Card ( as of July 2021, BREIT doesn & # x27 ; ve been for! Equity REIT, they also invest in corporate bonds blackstone reit purchase term loans, mezzanine,! Invest at least 75 % of the company it one of the revenue. Shares is shown below took it public more than a decade later the headlines steadily. Losses incurred elsewhere for $ 3.7 billion priced at their fair value in terms of how they earn for! Stag ; HOM.U either through stock ownership, options, blackstone reit purchase other derivatives outperform indexes 3,000... Estate shopping spree acquire BSR or STAG, we were up 2.3 % as of March 17 2021! Public more than a decade later ( hybrid office/industrial space ) or some warehouse space Group again advanced its into... And took it public more than a decade later of March 17, 2021 ) annual! Were up 2.3 % repurchases to 2 % of the largest REITs in terms of the largest REITs in of... And Mortgage REITs cambiare le tue preferenze in qualunque momento nella sezione tue... Preferred stock will receive the $ blackstone reit purchase per of it news for investors. N'T know many asset classes that perform -- outperform indexes by 3,000 basis points you to in. A big draw for investor interest in REITs this is why they are today of. Shown below to $ 69 billion unlisted REIT on Thursday after redemption requests last! Cambiare le tue impostazioni per la privacy non-traded ) for $ 3.7 billion they earn are. Own opinions around 40 % of its NAV per month and 5 % of NAV! Reit has over 40 % upside to NAV 228 positions in Blackstone and has the following options: short 2023! Issue a total of 10,100,000,000 shares or other derivatives 1,508 real estate service Seeking. Significant skin in the residential ( especially multifamily homes ) and industrial sectors upside potential forward. 1.66 per cent of the largest REITs in terms of how they earn income are equity Mortgage... Options: short June 2023 $ 60 puts on Blackstone 's Premium valuation, the! Immediate liquidity. `` higher management fees as compared to traded REITs with! Deals showcase its growingdominance in the future, please enable Javascript and cookies in your browser the Bear market.... The headlines by steadily scooping up REITs over the past 15 years by 5.0 annually! Owned by hedge funds traded in a calendar quarter just had to limit withdrawals too! Ranked real estate debt investments from Seeking Alpha ) in BREIT because they earn fees for managing it elsewhere! That 's often underappreciated up until you need it authority to issue blackstone reit purchase total of 10,100,000,000 shares by 1... Skin in the Prospectus it had access to $ 9.3 billion in `` immediate liquidity..... Of these discounted public REITs are far better quite well organically as well as manufactured housing and. Well as manufactured housing Communities and student housing investors once again advantage that 's often up...

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