September 21, 2026
Blackstone Real Estate announced the full subscription of its first Delaware Statutory Trust (“DST”) designed for commercial real estate owners seeking to reinvest sale proceeds into another “like-kind” property via a 1031 exchange, deferring capital gains taxes in the process.
The portfolio for this initial offering is comprised of two Class A, highly amenitized multifamily properties in the Sunbelt totaling more than 600 units. The assets were identified by Blackstone Real Estate Income Trust, Inc. (“BREIT”), which owns a $120B+ institutional-quality portfolio concentrated in data centers, industrial, and rental housing.
“We are thrilled to have fully subscribed our first DST offering and to help our investors achieve their 1031 goals. The Blackstone Real Estate Exchange program (“BXREX”) is backed by the full resources of Blackstone’s real estate platform, and we believe we are uniquely positioned for this space,” said Katie Keenan, Global Head of Blackstone’s Core+ Real Estate business and Chief Executive Officer of BREIT.
About Blackstone Real Estate Income Trust
Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $314 billion in investor capital under management. Further information is available at www.breit.com.
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $314 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust, Inc. (NYSE: BXMT).
No Offer of Securities
This press release is not intended to be a recommendation or investment advice and does not constitute an offer to sell, or a solicitation to buy, any securities or investment strategy.