Blackstone Real Estate Income Trust Securities Investigation
Concerned about your investment in Blackstone Real Estate Income Trust?
Are you concerned about your investment losses in Blackstone Real Estate Income Trust (also known as BREIT)? If so, the securities attorneys at The White Law Group may be able to help you.
Blackstone Real Estate Income Trust (Blackstone REIT) is a public non-listed REIT “designed to provide individual investors with access to Blackstone’s leading institutional real estate investment platform,” according to its website.
According to filings with the SEC, on April 21, 2020, Blackstone REIT announced a reduction in NAV per share of 8.6% from $11.42 per Class I share as of February 29, 2020, to $10.44 per share as of March 31, 2020.
The REIT reportedly claimed that the decline was due to slower rental growth, rent relief requests and anticipated reductions in projected lease-up of vacant space. Further, Blackstone REIT noted decreased cash flow from hospitality assets, and a broad market decline in CMBS securities, which weighed on its debt investments, (13.6% of total assets) as of December 31, 2019.
Blackstone’s hospitality assets which include The Bellagio, and a 49.9% stake in both the Mandalay Bay, and the MGM Grand Las Vegas, have reportedly suspended operations in light of the COVID-19 global pandemic. The Bellagio is reportedly operated by subsidiaries of MGM Resorts International (NYSE: MGM) under a triple net lease agreement with corporate guarantee of payments by MGM.
Recovery of Investment Losses
The White Law Group is currently investigating potential claims against brokerage firms who may have unsuitably recommended non-traded REITs to investors.
These claims result when broker-dealers fail to perform adequate due diligence on the investments before offering them for sale to their clients. Additionally the brokerage firms often fail to determine whether the investments were appropriate in light of their clients’ age, investment, experience, net worth, and tolerance for risk.
If you are concerned about your investment losses in Blackstone Real Estate Income Trust, please call the securities attorneys of The White Law Group at (888) 637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.
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