Blackstone Secures $845M Refinancing for Multi-State Apartment Portfolio

Blackstone Real Estate Income Trust (BREIT) secures an $845.2M refinancing deal for a 12-property, 5,000-unit multifamily portfolio across the Sun Belt.

By: AXL Media

Published: Mar 25, 2026, 4:13 AM EDT

Source: Bisnow

Debt Restructuring and Capital Influx

The refinancing deal, expected to close in April 2026, is a two-year floating-rate loan organized by a syndicate of major lenders, including Deutsche Bank AG, Societe Generale, Bank of Montreal, and Nomura. BREIT is using the proceeds to pay off approximately $924.5 million in existing debt. To bridge the gap between the new loan and the maturing debt, Blackstone is contributing $94.1 million in fresh equity. This move signals a stabilizing balance sheet for BREIT, which saw a significant rebound in 2025 with $7.2 billion in new inflows after two years of redemption-driven pressure.

Portfolio Composition and Performance

The portfolio consists of 4,922 units across Georgia, Florida, Colorado, Texas, Arizona, and North Carolina. BREIT originally acquired a 98% stake in these assets in 2021 from Cortland Sponsors LLC for over $1.2 billion.

Key Portfolio Metrics (as of Jan 2026):

Weighted Occupancy: ~92% (down from 94% in 2022)