The following table sets forth the total assets by segment ($ in thousands):

	September 30, 2018		December 31, 2017
Multifamily	$	5,379,132	$	2,567,735
Industrial		2,876,939		636,900
Hotel		1,125,262		281,242
Retail		138,091		103,138
Real Estate-Related Securities		2,040,501		918,975
Other (Corporate)		167,249		117,318
Total assets	$	11,727,174	$	4,625,308

The following table sets forth the financial results by segment for the three months ended September 30, 2018 ($ in thousands):

	Multifamily		Industrial		Hotel		Retail		Real Estate- Related Securities		Total
Revenues:
Rental revenue	$	88,799	$	43,719	$	—	$	2,049	$	—	$	134,567
Tenant reimbursement income		5,049		12,746		—		476		—		18,271
Hotel revenue		—		—		40,000		—		—		40,000
Other revenue		6,337		165		781		41		—		7,324
Total revenues		100,185		56,630		40,781		2,566		—		200,162

Expenses:
Rental property operating		46,196		16,818		—		769		—		63,783
Hotel operating		—		—		26,822		—		—		26,822
Total expenses		46,196		16,818		26,822		769		—		90,605
Income from real estate-related securities		—		—		—		—		28,647		28,647
Segment net operating income	$	53,989	$	39,812	$	13,959	$	1,797	$	28,647	$	138,204

Depreciation and amortization	$	62,929	$	31,966	$	7,633	$	1,230	$	—	$	103,758

Other income (expense):
General and administrative												(3,027	)
Management fee												(11,823	)
Performance participation allocation												(12,447	)
Interest income												82
Interest expense												(65,711	)
Other income (expense)												(283	)
Net loss											$	(58,763	)
Net loss attributable to non-controlling interests											$	1,096
Net loss attributable to BREIT stockholders											$	(57,667	)

The following table sets forth the financial results by segment for the three months ended September 30, 2017 ($ in thousands):

	Multifamily		Industrial		Hotel		Retail		Real Estate- Related Securities		Total
Revenues:
Rental revenue	$	24,911	$	7,737	$	—	$	951	$	—	$	33,599
Tenant reimbursement income		964		2,036		—		230		—		3,230
Hotel revenue		—		—		9,874		—		—		9,874
Other revenue		2,182		7		—		12		—		2,201
Total revenues		28,057		9,780		9,874		1,193		—		48,904

Expenses:
Rental property operating		12,588		3,029		—		321		—		15,938
Hotel operating		—		—		6,668		—		—		6,668
Total expenses		12,588		3,029		6,668		321		—		22,606
Income from real estate-related securities		—		—		—		—		4,026		4,026
Segment net operating income	$	15,469	$	6,751	$	3,206	$	872	$	4,026	$	30,324

Depreciation and amortization	$	32,606	$	5,408	$	1,862	$	483	$	—	$	40,359

Other income (expense):
General and administrative												(1,716	)
Management fee												(3,712	)
Performance participation allocation												(5,711	)
Interest income												36
Interest expense												(10,866	)
Other income (expense)												157
Net loss											$	(31,847	)
Net loss attributable to non-controlling interests											$	122
Net loss attributable to BREIT stockholders											$	(31,725	)

The following table sets forth the financial results by segment for the nine months ended September 30, 2018 ($ in thousands):

	Multifamily		Industrial		Hotel		Retail		Real Estate- Related Securities		Total
Revenues:
Rental revenue	$	213,512	$	104,206	$	—	$	5,616	$	—	$	323,334
Tenant reimbursement income		11,463		30,095		—		1,321		—		42,879
Hotel revenue		—		—		79,017		—		—		79,017
Other revenue		15,637		343		781		81		—		16,842
Total revenues		240,612		134,644		79,798		7,018		—		462,072

Expenses:
Rental property operating		112,775		38,681		—		2,397		—		153,853
Hotel operating		—		—		51,958		—		—		51,958
Total expenses		112,775		38,681		51,958		2,397		—		205,811
Income from real estate-related securities		—		—		—		—		59,279		59,279
Segment net operating income	$	127,837	$	95,963	$	27,840	$	4,621	$	59,279	$	315,540

Depreciation and amortization	$	166,983	$	77,786	$	14,643	$	3,296	$	—	$	262,708

Other income (expense):
General and administrative												(7,973	)
Management fee												(28,073	)
Performance participation allocation												(29,796	)
Interest income												280
Interest expense												(146,943	)
Other income (expense)												(672	)
Net loss											$	(160,345	)
Net loss attributable to non-controlling interests											$	4,648
Net loss attributable to BREIT stockholders											$	(155,697	)

The following table sets forth the financial results by segment for the nine months ended September 30, 2017 ($ in thousands):

	Multifamily		Industrial		Hotel		Retail		Real Estate- Related Securities		Total
Revenues:
Rental revenue	$	39,466	$	14,357	$	—	$	1,904	$	—	$	55,727
Tenant reimbursement income		1,472		3,703		—		328		—		5,503
Hotel revenue		—		—		15,048		—		—		15,048
Other revenue		3,385		6		—		18		—		3,409
Total revenues		44,323		18,066		15,048		2,250		—		79,687

Expenses:
Rental property operating		19,473		5,664		—		495		—		25,632
Hotel operating		—		—		9,617		—		—		9,617
Total expenses		19,473		5,664		9,617		495		—		35,249
Income from real estate-related securities		—		—		—		—		7,435		7,435
Segment net operating income	$	24,850	$	12,402	$	5,431	$	1,755	$	7,435	$	51,873

Depreciation and amortization	$	51,205	$	9,852	$	3,119	$	969	$	—	$	65,145

Other income (expense):
General and administrative												(5,969	)
Management fee												(3,712	)
Performance participation allocation												(10,952	)
Interest income												418
Interest expense												(16,413	)
Other income (expense)												85
Net loss											$	(49,815	)
Net loss attributable to non-controlling interests											$	122
Net loss attributable to BREIT stockholders											$	(49,693	)