National investment fraud lawyers KlaymanToskes continues its investigation of major wall street brokerage firms and financial advisors that may have sold Blackstone, Inc. and Blackstone Real Estate Income Trust (“BREIT”), following the company’s announcement that it has reached its monthly redemption limit in January 2023. This was done by fulfilling approximately $1.3 Billion of repurchase requests.
The non-listed, private real estate investment trust announced that it will be limiting redemption requests for investors. This caused the stock of Blackstone, Inc. to drop nearly 10 percent. KlaymanToskes’ investigation notes issues of increased borrowing costs that could potentially result in Blackstone suspending repurchase requests altogether.
Investors who suffered losses as a result of being recommended Blackstone Real Estate Income Trust by their broker/financial adviser are encouraged to contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com for a free consultation to learn about recovery options. Our firm offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Blackstone, Inc. has announced that it fulfilled approximately $1.3 billion of repurchase requests, which is the equivalent of approximately two percent of the fund’s net asset value and around twenty five percent of the purported $5.3 billion in withdrawal requests received for the month.
Blackstone’s filing with the SEC in April 2020 announced that its net asset value per share had gone down over eight percent from $11.42/Class 1 share on February 29, 2020, to $10.44/share on March 31, 2020. The filing stated reasons such as slow growth in the rental space, requests for rent relief, a slowdown in cash flow from hospitality assets and a drop in the CMBS markets. BREIT’s recent SEC 8-k filing declared its net distributions for each class of common stock, to be paid to stockholders on or about March 20, 2023. The net distribution for Class I, D, T, and S common stockholders is $0.0548.
KlaymanToskes offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to securities attorney, Lawrence L. Klayman, “Non-traded REITs are subject to risks that are not easily understood by investors who lack the sophistication to determine the nature of the risks associated with the strategy.”
A Financial Industry Regulatory Authority (“FINRA”) securities arbitration claim may be the best solution to recover investment losses. FINRA arbitration is a more cost-effective process for investors, often occurring with increased speed and efficiency over litigation. Also, FINRA arbitration allows investors to maintain greater flexibility over their case.
Investors who have experienced significant investment losses in Blackstone REIT are encouraged to contact attorney Lawrence L. Klayman, Esq. at 1-888-997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation to learn more about the arbitration process.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com