Investors nervous about Blackstone’s real estate investment trust should view it as a long-term vehicle that’s well-positioned for the future, Blackstone president and COO Jon Gray says.
" interview. "We described it as semi-liquid because we knew at some point there would be a period of volatility, and we didn't want to sell assets at the wrong time under pressure."
Publicly traded REITs have gotten slammed this year amid a rising interest rate environment that has hit the real estate market especially hard, raising questions about the actual values of holdings in private funds such as Blackstone's BREIT. The $35 billion"The key theme here is that performance has delivered and the structure we put in place is operating exactly as we intended six years ago, and we are incredibly proud of the performance and the structure," Gray said.
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