Blackstone, BX, has blocked withdrawals from its $69 billion real estate income trust

Blackstone, $BX, has blocked withdrawals from its $69 billion real estate income trust.

BREIT said it fulfilled redemption requests of about $1.3 billion in January, representing 25% of the approximately $5.3 billion of the total withdrawal requests it had received during the month, per Reuters.

They initially blocked investor withdrawals from November last year.

Recently, KKR blocked REIT withdrawals as well.

KKR told investors of its KKR Real Estate Select Trust Inc that it received redemption requests greater than 5% of its quarterly net asset value as of the end of December.

As a result, KKR allowed investors to redeem just $79.3 million, which is equivalent to approximately 62% of the total investors' repurchase requests of about $128 million.