-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001502743-10-000001.txt : 20101008
<SEC-HEADER>0001502743-10-000001.hdr.sgml : 20101008
<ACCEPTANCE-DATETIME>20101008172618
ACCESSION NUMBER:		0001502743-10-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(1)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20101008
DATE AS OF CHANGE:		20101008
EFFECTIVENESS DATE:		20101008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Blackstone Real Estate Special Situations Principal Transaction Partners L.P.
		CENTRAL INDEX KEY:			0001502743
		IRS NUMBER:				273522461
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-148807
		FILM NUMBER:		101116813

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		212-583-5000

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
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        <cik>0001502743</cik>
        <entityName>Blackstone Real Estate Special Situations Principal Transaction Partners L.P.</entityName>
        <issuerAddress>
            <street1>345 PARK AVENUE</street1>
            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
            <zipCode>10154</zipCode>
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        <issuerPhoneNumber>212-583-5000</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
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        <entityType>Limited Partnership</entityType>
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            <relatedPersonName>
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                <lastName>Blackstone Real Estate Special Situations Associates II - NQ L.L.C.</lastName>
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                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10154</zipCode>
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                <stateOrCountry>NY</stateOrCountry>
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                <firstName>Garrett</firstName>
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        <relatedPersonInfo>
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                <firstName>Frank</firstName>
                <lastName>Cohen</lastName>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jonathan</firstName>
                <middleName>D.</middleName>
                <lastName>Gray</lastName>
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            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10154</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>of the General Partner of the Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <lastName>Nash</lastName>
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            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10154</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>J.</middleName>
                <lastName>Stein</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>345 Park Avenue</street1>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>of the General Partner of the Issuer</relationshipClarification>
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            <relatedPersonName>
                <firstName>Gary</firstName>
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                <lastName>Sumers</lastName>
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                <stateOrCountry>NY</stateOrCountry>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>of the General Partner of the Issuer</relationshipClarification>
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    <offeringData>
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                <signatureDate>2010-10-08</signatureDate>
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