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Blackstone Limited Withdrawals From Its Huge Retail REIT, Stock Slumps

Blackstone


is limiting withdrawals from its huge retail real estate investment trust after a sharp rise in redemption requests from investors.

In a letter posted on the

Blackstone


Real Estate Income Trust website, Blackstone (Ticker: BX) said that redemption requests already have exceeded the 5% quarterly limit for the REIT, which had $69 billion of net assets at the end of October. The REIT is known as BREIT.

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