The firm's real-estate fund Blackstone Real Estate Income Trust Inc. said it would limit redemptions as the amount of withdrawals requested in October exceeded its monthly limit of 2% of its net-asset value and its quarterly threshold of 5%. "Our business is built on performance, not fund flows, and performance is rock solid," a Blackstone spokesman said. BREIT also agreed to sell its 49.9% stake in MGM Grand Las Vegas and the Mandalay Bay to its co-owner Vici Properties Inc. Dow Jones & Co. owns Factiva. (josh.beckerman@wsj.com)(END) Dow Jones Newswires12-02-22 1410ET

Source: Wall Street Journal December 03, 2022 07:13 UTC