v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Investments in real estate, net $ 68,955,509 $ 73,933,873
Investments in unconsolidated entities (includes $3,744,156 and $3,843,300 at fair value as of June 30, 2026 and December 31, 2025, respectively) 5,999,375 6,144,367
Investments in real estate debt, at fair value 3,828,678 4,133,770
Real estate loans held by consolidated securitization vehicles, at fair value 4,095,346 6,975,460
Cash and cash equivalents 1,405,134 1,605,053
Restricted cash 835,097 739,986
Other assets 5,634,718 5,070,999
Total assets 90,753,857 98,603,508
Liabilities and Equity    
Mortgage loans, secured term loans, and secured revolving credit facilities, net 52,525,971 55,540,761
Secured financings of investments in real estate debt 2,655,650 2,921,671
Senior obligations of consolidated securitization vehicles, at fair value 3,544,320 6,284,112
Unsecured revolving credit facilities and term loans 1,526,923 2,451,923
Total liabilities 65,439,482 71,934,744
Commitments and contingencies 0 0
Redeemable non-controlling interests 111,393 141,102
Equity    
Common stock, $0.01 par value per share 35,330 35,210
Additional paid-in capital 40,419,220 40,302,620
Accumulated other comprehensive income 308,611 307,865
Accumulated deficit and cumulative distributions (23,148,992) (21,313,611)
Total stockholders’ equity 17,614,169 19,332,084
Non-controlling interests attributable to consolidated subsidiaries 3,726,958 3,725,813
Non-controlling interests attributable to BREIT OP 3,861,855 3,469,765
Total equity 25,202,982 26,527,662
Total liabilities and equity 90,753,857 98,603,508
Related Party    
Liabilities and Equity    
Other liabilities 967,524 791,741
Nonrelated Party    
Liabilities and Equity    
Other liabilities $ 4,219,094 $ 3,944,536