Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Summary of Total Assets and Financial Results by Segment

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

	March 31, 2019		December 31, 2018
Multifamily	$	6,288,497	$	5,396,457
Industrial		3,956,750		3,966,796
Hotel		1,446,887		1,268,992
Retail		135,711		136,273
Real estate-related securities and loans		2,395,217		2,281,033
Other (Corporate)		512,730		187,607
Total assets	$	14,735,792	$	13,237,158

The following table sets forth the financial results by segment for the three months ended March 31, 2019 ($ in thousands):

	Multifamily		Industrial		Hotel		Retail		Real Estate- Related Securities and Loans		Total
Revenues:
Rental revenue	$	127,898	$	81,301	$	—	$	2,998	$	—	$	212,197
Hotel revenue		—		—		75,266		—		—		75,266
Other revenue		7,611		217		1,727		73		—		9,628
Total revenues		135,509		81,518		76,993		3,071		—		297,091
Expenses:
Rental property operating		61,824		24,861		—		1,126		—		87,811
Hotel operating		—		—		51,320		—		—		51,320
Total expenses		61,824		24,861		51,320		1,126		—		139,131
Income from real estate-related securities and loans		—		—		—		—		61,683		61,683
Segment net operating income	$	73,685	$	56,657	$	25,673	$	1,945	$	61,683	$	219,643
Depreciation and amortization	$	78,534	$	45,022	$	14,426	$	1,497	$	—	$	139,479
Other income (expense):
General and administrative												(3,181	)
Management fee												(17,177	)
Performance participation allocation												(20,163	)
Interest income												194
Interest expense												(91,587	)
Other income (expense)												1,654
Net loss											$	(50,096	)
Net loss attributable to non-controlling interests in third party joint ventures											$	2,036
Net loss attributable to non-controlling interests in BREIT OP												1,214
Net loss attributable to BREIT stockholders											$	(46,846	)

The following table sets forth the financial results by segment for the three months ended March 31, 2018 ($ in thousands):

	Multifamily		Industrial		Hotel		Retail		Real Estate- Related Securities and Loans		Total
Revenues:
Rental revenue	$	60,743	$	24,601	$	—	$	2,217	$	—	$	87,561
Hotel revenue		—		—		17,821		—		—		17,821
Other revenue		4,237		38		8		19		—		4,302
Total revenues		64,980		24,639		17,829		2,236		—		109,684
Expenses:
Rental property operating		30,620		7,185		—		813		—		38,618
Hotel operating		—		—		11,614		—		—		11,614
Total expenses		30,620		7,185		11,614		813		—		50,232
Income from real estate-related securities and loans		—		—		—		—		13,235		13,235
Segment net operating income	$	34,360	$	17,454	$	6,215	$	1,423	$	13,235	$	72,687
Depreciation and amortization	$	55,873	$	13,998	$	3,210	$	1,043	$	—	$	74,124
Other income (expense):
General and administrative												(2,045	)
Management fee												(6,969	)
Performance participation allocation												(7,873	)
Interest income												77
Interest expense												(31,391	)
Other income (expense)												—
Net loss											$	(49,638	)
Net loss attributable to non-controlling interests in third party joint ventures											$	1,716
Net loss attributable to non-controlling interests in BREIT OP												374
Net loss attributable to BREIT stockholders											$	(47,548	)