Article · Wikipedia archive · Last revised Jun 6, 2026

BREIT

Blackstone Real Estate Investment Trust (BREIT) is a REIT launched by Blackstone Inc. in 2017.

Last revised
Jun 6, 2026
Read time
≈ 2 min
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391 w
Citations
11
Source
Wikipedia ↗
Blackstone Real Estate Investment Trust
Company type
Subsidiary
IndustryReal estate investment trust
Founded2017 (2017)
HeadquartersNew York City, New York, U.S.
AUM$100 billion (2024)
ParentBlackstone Inc.

Blackstone Real Estate Investment Trust (BREIT) is a REIT (real estate investment trust) launched by Blackstone Inc. in 2017.

As of 2024 it had over $100 billion in assets under management (AUM), accounting for approximately 8% of Blackstone' assets under management.1 It is a private (non-listed) REIT, and one of the largest REITs in the world.

Blackstone appraises the value of its assets every month; this approach has been questioned.2

History

In February 2022 BREIT offered to buy Preferred Apartment Communities Inc, which owned about 12,000 housing units, for $5.8 billion.34

In January 2023 the company put caps on withdrawal requests after receiving over $5 billion in redemption requests.5

In 2023, the University of California announced an investment of $4 billion in the trust.6 The investment was quickly met with backlash from tenants, unions, and faculty.7

On July 28, 2025, Wesley LePatner, the CEO of BREIT, was killed along with three other victims when a gunman targeted 345 Park Avenue, apparently in an attempt to reach the National Football League headquarters in the building.89 Authorities stated that the shooter had no known direct connection to Blackstone, BREIT, or the victims.10

In early September 2025, Katie Keenan was appointed CEO of Blackstone’s BREIT. She also is now global head of Blackstone’s Core+ real estate business.11

References

References

  1. McLean, Bethany. "Veteran analysts say the world's biggest private-equity firm could be in big trouble". Business Insider.
  2. "The Big Questions Hanging Over a Blackstone Fund". The New York Times. May 7, 2024.
  3. "Blackstone to buy Preferred Apartment Communities in $5.8 bln deal". Reuters. 2022-02-16. Retrieved 2025-07-30.
  4. "Blackstone expands further into rental housing in the United States. (Published 2022)". 2022-02-16. Retrieved 2025-07-30.
  5. Bary, Andrew. "Blackstone Caps BREIT Withdrawals in January After Large Redemption Requests". barrons. Retrieved 2025-07-30.
  6. "Client Challenge". www.ft.com. Retrieved 2025-07-30.
  7. "When the Public University Is the Corporate Landlord". LPE Project. 2023-02-20. Retrieved 2025-07-30.
  8. Dunbar, Marina (July 29, 2025). "What to know about the victims of the New York City skyscraper shooting". the Guardian. Retrieved July 30, 2025.
  9. "Gunman Who Killed 4 At Manhattan Office Building Was Targeting NFL Headquarters, Mayor Says". HuffPost. 2025-07-29. Retrieved 2025-07-29.
  10. Herbst-Bayliss, Svea (July 29, 2025). "'Beloved' Blackstone executive LePatner killed in Manhattan remembered as industry leader". Reuters. Retrieved January 12, 2026.
  11. https://www.businessinsider.com/new-head-blackstone-breit-kelly-keenan-succeeding-wesley-lepatner-shooting-2025-9