UNITED STATES
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CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 6, 2025, the Board of Directors (the “Board”) of Blackstone Real Estate Income Trust, Inc. (the “Company”) (1) appointed A.J. Agarwal as Co-President of the Company and a director, (2) designated Robert Harper, the Company’s current President, as Co-President alongside Mr. Agarwal, and (3) appointed Glen Bartley as the Company’s Chief Operating Officer, in each case, effective immediately. Mr. Agarwal, formerly the Company’s President and a director, recently returned to Blackstone from an academic year sabbatical at his Alma Mater, Stanford University, and has been involved in the leadership of the Company since his return, with a focus on engaging with its stockholders and distribution partners just as he did before his sabbatical. He served as an observer of the Board throughout his sabbatical. Additionally, Brian Kim, the Company’s Head of Acquisitions and Capital Markets and a director, stepped down from his roles with the Company on the same day, effective immediately, and has taken another leadership position as the Global Chief Operating Officer of Blackstone’s Real Estate Debt Strategies business.
Mr. Agarwal, 58, is a Senior Managing Director in the Real Estate Group of Blackstone, where he focuses on the global Core+ business. Mr. Agarwal was President and a director of the Company from December 2015 to August 2023. Prior to the launch of the Blackstone Real Estate Core+ business, Mr. Agarwal was co-head of the U.S. Acquisitions team and oversaw more than $50 billion of investment transactions across all real estate asset classes for Blackstone’s opportunistic real estate funds. Mr. Agarwal joined Blackstone in 1992 and is a member of Blackstone’s Real Estate Investment Committee. Mr. Agarwal graduated from Princeton University, where he graduated magna cum laude and Phi Beta Kappa, and received his MBA from Stanford University Graduate School of Business. Mr. Agarwal is also a member of the Council on Foreign Relations.
Mr. Bartley, 39, is a Managing Director in the Real Estate Group of Blackstone. Mr. Bartley is involved in the management and operations of the Company and was previously a member of Blackstone Real Estate’s investment team where he focused primarily on driving performance in its office and lab office investments. Before joining Blackstone in July 2019, Mr. Bartley worked at Goldman Sachs for 10 years in various roles across the real estate business including acquisitions, asset management, and debt originations and restructurings. Mr. Bartley received a BE in Mechanical Engineering from Vanderbilt University and an MBA from Columbia Business School.
Mr. Agarwal is a Senior Managing Director in the Real Estate Group of Blackstone and was requested by Blackstone to serve on the Board. There are no family relationships between Messrs. Agarwal or Bartley and any director or executive officer of the Company and there are no transactions between either of them and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BLACKSTONE REAL ESTATE INCOME TRUST, INC. | ||||||
| Date: March 7, 2025 | ||||||
| By: | /s/ Leon Volchyok | |||||
| Name: | Leon Volchyok | |||||
| Title: | Chief Legal Officer and Secretary | |||||