Blackstone Real Estate Income Trust’s (BREIT) class S NAV per share increased $0.04 as of July 31, 2020, from $10.74 as of June 30, 2020 to $10.78 as of July 31, 2020, according to an SEC filing. This price movement was driven by increases in the valuation of BREIT’s industrial and multifamily properties, and mark-to-market increases in its real estate debt portfolio as pricing across securities, including CMBS, continued to recover from significant declines in March.
In addition, rent collections for its multifamily, industrial, net lease, retail and office properties in July were 1.8 percent below a typical month. BREIT continues to maintain substantial liquidity ($3.9 billion as of Aug. 13, 2020) and modest leverage (48 percent loan-to-value as of July 31, 2020).
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