The Blackstone Fund BREIT Faces Big Questions

The Blackstone Fund BREIT Faces Big Questions

On Wall Street, one mystery has been whispered about for months: How accurate is the valuation of Blackstone’s flagship real estate fund?

The speculation has arisen because the fund, the $59 billion Blackstone Real Estate Income Trust — more commonly known as BREIT — has managed to keep an “appraised” value of its assets that far exceeds virtually every other real estate fund. Many rivals have fallen in value, some quite dramatically, in the face of high interest rates and a flagging property market.

BREIT’s performance has floated above its competition, and it has boasted a 10.5 percent annual return since its 2017 debut.

The debate over the fund’s impressive performance has taken on greater significance, and the criticism has grown louder, because of how Blackstone determines the appraised value of its assets, DealBook’s Andrew Ross Sorkin and Michael de la Merced report.

Lessons Learned From a Decade of Answering Your Real Estate Questions

Lessons Learned From a Decade of Answering Your Real Estate Questions

Q: For 10 years, Ronda Kaysen answered New Yorkers’ questions each week as The New York Times’s Ask Real Estate columnist. Now, as she shifts her focus to writing more feature articles for The Times, she looks back on what she’s learned. How did she answer the hardest questions and what parting words would she give to anyone seeking housing advice?

A: It’s an odd assignment, telling strangers how to deal with landlords, co-op boards, roommates and neighbors. But soon after I started writing the Ask Real Estate column in 2013, my editor offered me this advice: Think of myself as a bossy, but knowledgeable, big sister. As someone who grew up with two older sisters, I got it. If you were wrongheaded, I was here to set you straight. If you were wronged, I could help you defend yourself.


I soon became something of a 311 operator for The

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Ask These Vital Questions Before You Lease Your Subsequent Condominium

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Despite these large property value rises, Costa Rican property continues to be cheap compared to international locations including the US. A stunning three bedroom …