Blackstone REIT Sees Sizeable Outflows in October

Blackstone’s Real Estate Income Trust experienced sizable net redemptions for the first time this October, according to Barron’s.

Barron’s estimates that net redemptions totaled about $700 million in October for Blackstone Real Estate Income Trust, based on a disclosure in the fund’s monthly report, dated Monday, that lists its shares outstanding.

Barron’s notes that this particular product has become one of the largest buyers of real estate in the country and is a significant source of growth for Blackstone. However, investors may now be concerned that this big growth engine may be going into reverse.