Blackstone Real Estate Income Trust’s (BREIT) class S NAV per share increased $0.18, from $10.78 as of July 31, 2020, to $10.96 as of Aug. 31, 2020, according to an SEC filing dated Sept. 15.
This price movement was driven by increases in the value of BREIT’s industrial and multifamily properties as investors seek income-producing real estate with solid fundamentals in a low interest rate environment and mark-to-market increases in our real estate debt portfolio. In addition, rent collections for BREIT’s multifamily, industrial, net lease, retail and office properties were only 2.1 percent below a typical month.
Overall, BREIT continues to expect the path to a full economic recovery will be uneven and vary by sector. Resilient sectors with solid fundamentals, such as industrial and multifamily, continue to be well positioned in the current environment. BREIT is beginning to see increasing levels of t