Blackstone


is limiting withdrawals from its huge retail real estate investment trust after a sharp rise in redemption requests from investors.

In a letter posted on the


Blackstone


Real Estate Income Trust website, Blackstone (Ticker: BX) said that redemption requests already have exceeded the 5% quarterly limit for the REIT, which had $69 billion of net assets at the end of October. The REIT is known as BREIT.