“Blackstone REIT Announces Major Asset Liquidations As Redemption Requests Continue”
July 5, 2023
“Blackstone real estate investment trust (BREIT), which recently made news for exercising a clause that restricted owner withdrawals for several consecutive months, has not taken the news lying down. Blackstone recently announced the sale of $3.1 billion worth of its industrial real estate portfolio. It also is rumored to be considering a sale of its Las Vegas portfolio…
It’s no secret that Blackstone has been restricting owner withdrawals in its REIT for almost the entire year. With that in mind, it’s not hard to imagine it is under tremendous pressure to liquidate assets. Rumors are circulating that Blackstone may sell half of the $4.25 billion interest it acquired in the Bellagio Resort & Casino in Las Vegas in 2019. If true, it would represent the liquidation of an asset that is performing well…”
https://finance.yahoo.com/news/blackstone-reit-announces-major-asset-180808646.html
Here we go again. Blackstone is attempting to scam another victim. They know hard times are coming. The Fed is forcing a recession to control inflation. At least that’s what the Fed claims. Of course there’s going to be less traffic to gambling halls when people are battling high grocery bills and businesses can’t afford their real estate investments.