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Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity
Common Stock
Class S
Common Stock
Class I
Common Stock
Class T
Common Stock
Class D
Common Stock
Class C
Common Stock Including Additional Paid in Capital
Class I
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit and Cumulative Distributions
Non-controlling Interests
Non-controlling Interests
Non- controlling Interests Attributable to BREIT OP Unitholders
Non-controlling Interests
Non- controlling Interests Attributable to Third Party Joint Ventures
Beginning Balance at Dec. 31, 2023 $ 43,622,494 $ 36,350,567 $ 14,882 $ 24,030 $ 592 $ 1,548 $ 21   $ 48,576,100 $ 345,975 $ (12,612,581)   $ 2,562,306 $ 4,709,621
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Common stock issued (transferred) 1,044,043 1,044,043 87 363 (44) 16 6   1,043,615          
Increase /Reduction in accrual for offering costs, net 100,649 100,649             100,649          
Distribution reinvestment 624,676 572,944 148 233 7 17     572,539       51,732  
Common stock/units repurchased (6,243,042) (6,133,960) (1,257) (2,896) (50) (138)     (6,129,619)       (109,082)  
Amortization of compensation awards 41,470 36,062           $ 361 35,701       5,408  
Net loss (749,477) (651,512)                 (651,512)   (31,381) (66,584)
Other comprehensive (loss) income 146,268 112,211               112,211     5,912 28,145
Distributions declared on common stock and OP units (1,277,434) (1,203,879)                 (1,203,879)   (73,555)  
Contributions from non-controlling interests 540,432                       405,732 134,700
Operating distributions to and redemptions of non-controlling interests (73,310)                         (73,310)
Capital distributions to and redemptions of non-controlling interests (295,170) (92,120)             (92,120)         (203,050)
Allocation to redeemable non-controlling interests 20,068 20,068             20,068          
Ending Balance at Jun. 30, 2024 37,501,667 30,155,073 13,860 22,091 505 1,443 27   44,126,933 458,186 (14,467,972)   2,817,072 4,529,522
Beginning Balance at Mar. 31, 2024 40,998,660 33,486,596 14,374 23,127 551 1,513 22   46,358,005 448,208 (13,359,204)   2,770,015 4,742,049
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Common stock issued (transferred) 595,696 595,696 60 191 (22) 14     595,448          
Increase /Reduction in accrual for offering costs, net 70,126 70,126             70,126          
Distribution reinvestment 309,947 282,914 73 115 3 8     282,715       27,033  
Common stock/units repurchased (3,326,164) (3,226,829) (647) (1,514) (27) (92)     (3,224,549)       (99,335)  
Amortization of compensation awards 19,883 17,179           172 17,007       2,704  
Net loss (580,294) (518,499)                 (518,499)   (25,997) (35,798)
Other comprehensive (loss) income 11,853 9,978               9,978     413 1,462
Distributions declared on common stock and OP units (627,952) (590,269)                 (590,269)   (37,683)  
Contributions from non-controlling interests 185,535                       179,922 5,613
Operating distributions to and redemptions of non-controlling interests (38,163)                         (38,163)
Capital distributions to and redemptions of non-controlling interests (136,652) 8,989             8,989         (145,641)
Allocation to redeemable non-controlling interests 19,192 19,192             19,192          
Ending Balance at Jun. 30, 2024 37,501,667 30,155,073 13,860 22,091 505 1,443 27   44,126,933 458,186 (14,467,972)   2,817,072 4,529,522
Beginning Balance at Dec. 31, 2024 34,694,130 27,353,907 13,395 21,651 439 1,389 28   42,781,930 383,272 (15,848,197)   2,964,555 4,375,668
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Common stock issued (transferred) 1,096,252 1,096,252 48 409 (41) 26 4   1,095,806          
Increase /Reduction in accrual for offering costs, net (309,441) (309,441)             (309,441)          
Distribution reinvestment 598,124 528,248 143 220 6 16     527,863       69,876  
Common stock/units repurchased (3,611,403) (3,581,588) (821) (1,655) (24) (102) (1)   (3,578,985)       (29,815)  
Amortization of compensation awards 40,545 40,545           405 40,140          
Net loss (2,406,712) (2,185,115)                 (2,185,115)   (162,228) (59,369)
Other comprehensive (loss) income (116,692) (77,171)               (77,171)     (5,351) (34,170)
Distributions declared on common stock and OP units (1,191,147) (1,102,165)                 (1,102,165)   (88,982)  
Contributions from non-controlling interests 579,268                       536,083 43,185
Operating distributions to and redemptions of non-controlling interests (78,203)                         (78,203)
Capital distributions to and redemptions of non-controlling interests (62,004) 1,270             1,270     $ (63,274)    
Allocation to redeemable non-controlling interests (3,406) (3,406)             (3,406)          
Ending Balance at Jun. 30, 2025 29,229,311 21,761,336 12,765 21,030 380 1,329 31   40,555,177 306,101 (19,135,477)   3,284,138 4,183,837
Beginning Balance at Mar. 31, 2025 31,014,198 23,741,675 12,994 21,213 407 1,348 29   41,500,103 306,645 (18,101,064)   2,988,770 4,283,753
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Common stock issued (transferred) 574,692 574,692 18 190 (22) 18 3   574,485          
Increase /Reduction in accrual for offering costs, net (343,220) (343,220)             (343,220)          
Distribution reinvestment 296,865 260,732 71 108 3 8     260,542     36,133    
Common stock/units repurchased (1,478,152) (1,456,759) (318) (685) (8) (45) (1)   (1,455,702)       (21,393)  
Amortization of compensation awards 20,463 20,463           $ 204 20,259          
Net loss (567,815) (488,478)                 (488,478)   (39,753) (39,584)
Other comprehensive (loss) income (11,568) (544)               (544)     (33) (10,991)
Distributions declared on common stock and OP units (592,590) (545,935)                 (545,935) $ (46,655)    
Contributions from non-controlling interests 391,683                       367,069 24,614
Operating distributions to and redemptions of non-controlling interests (41,911)                         (41,911)
Capital distributions to and redemptions of non-controlling interests (30,774) 1,270             1,270         (32,044)
Allocation to redeemable non-controlling interests (2,560) (2,560)             (2,560)          
Ending Balance at Jun. 30, 2025 $ 29,229,311 $ 21,761,336 $ 12,765 $ 21,030 $ 380 $ 1,329 $ 31   $ 40,555,177 $ 306,101 $ (19,135,477)   $ 3,284,138 $ 4,183,837