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BREIT this week eliminated a prominent marketing graphic touting inflated after-tax yields and tax-equivalent yields after we pointed out that it was false and misleading.
In December 2022 we predicted a run on BREIT and then in April 2023 we identified 7 major areas in which we believe Blackstone and BREIT have been misleading investors.
You can download a pdf of this article to print or email here.
Introduction
In December, we argued that Blackstone Real Estate Income Trust ("BREIT") smoothed and inflated its reported returns for years, leading to large investor inflows. [1] We predicted that a run on the bank had started because of Blackstone's prior conduct, leaving it with two very bad options. BREIT could honor redemption requests at posted NAVs and see its NAV cut in half as the NAV...
