X0306 4/A 2018-06-29 2018-07-03 0 0001589029 Blackstone Real Estate Income Fund II N/A 0001675405 Advocate Health Care Network 3075 HIGHLAND PARKWAY, SUITE 600 DOWNERS GROVE IL 60515 0 0 1 0 Blackstone Real Estate Income Fund II Institutional Class II 2018-06-29 4 J 0 31418.657 1026.5027 D 26938.785 I By wholly-owned subsidiary The shares were repurchased by the issuer as of June 29, 2018 pursuant to an Offer to Repurchase dated as of April 5, 2018 (the "Offer"). Pursuant to the terms of the Offer, the purchase price of the shares was equal to net asset value of the shares as of June 30, 2018, which was determined by the issuer on July 26, 2018. 7,108.747 shares were acquired through the issuer's dividend reinvestment plan. This Form 4A corrects the transaction date from June 30, 2018 to June 29, 2018, includes additional shares that were acquired through the dividend reinvestment plan and includes the purchase price for the shares, which was determined by the issuer on July 26, 2018 and was not known at the time of the Form 4 filing. /s/ Leslie Lenzo, VP Treasury and Chief Investment Officer 2018-08-01