Blackstone (real estate)
Blackstone is the manager most individual investors meet through BREIT, its non-listed REIT. The 10-K spells out two things buyers should know. BREIT pays its sponsor a 12.5% performance allocation over a 5% hurdle. And when redemption requests surged in late 2022, BREIT prorated them, so investors could not get all their money out on request.
Last verified: 2026-10-20
Unscored
Public asset manager. Runs BREIT, a non-listed REIT sold to individual investors.
Not scored. Not investment advice.
Not investment advice. This section describes what companies disclose in their filings. It does not recommend buying, selling or holding any security or fund. Past performance does not predict future results. Read the offering documents and consider talking to a licensed financial adviser before investing.
At a glance
| Legal entity | Blackstone Inc. (NYSE: BX) |
| Headquarters | New York, NY |
| Segment | Investment managers / Investing platforms |
| Scale (as published) | $319.3B real estate Total Assets Under Management (Dec 31, 2025) |
| Score | Unscored |
What the sources reveal
Blackstone is the manager most individual investors meet through BREIT, its non-listed REIT. The 10-K spells out two things buyers should know. BREIT pays its sponsor a 12.5% performance allocation over a 5% hurdle. And when redemption requests surged in late 2022, BREIT prorated them, so investors could not get all their money out on request.
Key facts
| Fact | Source | Checked |
|---|---|---|
| Real Estate business: $319.3B of Total Assets Under Management at Dec 31, 2025, with about 785 employees. | source | |
| Firm-wide: more than $1.3T in Total Assets Under Management; Perpetual Capital AUM $523.6B. | source | |
| BREIT’s general partner or special limited partner receives a performance participation allocation of 12.5% of total return, subject to a 5% hurdle, measured annually. | source | |
| Market volatility drove a material increase in BREIT repurchase requests beginning in late 2022, and BREIT began to prorate them in November 2022. | source | |
| 2025 total revenues $14,450.3M; net income $3,019.2M (XBRL, firm-wide). | source |
Who it’s actually for
- Institutions investing through Blackstone Real Estate Partners funds.
- Individuals using BREIT, if they accept limits on redemptions and a performance fee.
What we could not verify
- BREIT’s current NAV and returns: in BREIT’s own filings, which we have not read for this page.
Related
Blackstone (real estate) vs Brookfield (real estate) · Investment managers, REITs and platforms hub · All profiles
Last verified 2026-10-20. Figures were re-read from the linked sources that day.
View changelog
- Profile published from sources read this day.
Sources
- Blackstone Inc. Form 10-K for 2025 · accessed 2026-10-20
Corrections: use our contact page.