v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Assets    
Investments in real estate, net $ 66,966,748 $ 73,933,873
Investments in unconsolidated entities (includes $3,724,022 and $3,843,300 at fair value as of September 30, 2026 and December 31, 2025, respectively) 6,459,803 6,144,367
Investments in real estate debt, at fair value 4,460,338 4,133,770
Real estate loans held by consolidated securitization vehicles, at fair value 3,289,893 6,975,460
Cash and cash equivalents 1,409,420 1,605,053
Restricted cash 785,758 739,986
Other assets 5,563,842 5,070,999
Total assets 88,935,802 98,603,508
Liabilities and Equity    
Mortgage loans, secured term loans, and secured revolving credit facilities, net 51,579,813 55,540,761
Secured financings of investments in real estate debt 2,855,117 2,921,671
Senior obligations of consolidated securitization vehicles, at fair value 2,808,028 6,284,112
Unsecured revolving credit facilities and term loans 1,426,923 2,451,923
Total liabilities 63,777,046 71,934,744
Commitments and contingencies 0 0
Redeemable non-controlling interests 134,960 141,102
Equity    
Common stock, $0.01 par value per share 35,497 35,210
Additional paid-in capital 40,674,763 40,302,620
Accumulated other comprehensive income 344,542 307,865
Accumulated deficit and cumulative distributions (23,855,405) (21,313,611)
Total stockholders’ equity 17,199,397 19,332,084
Non-controlling interests attributable to consolidated subsidiaries 3,604,057 3,725,813
Non-controlling interests attributable to BREIT OP 4,220,342 3,469,765
Total equity 25,023,796 26,527,662
Total liabilities and equity 88,935,802 98,603,508
Related Party    
Liabilities and Equity    
Other liabilities 855,347 791,741
Nonrelated Party    
Liabilities and Equity    
Other liabilities $ 4,251,818 $ 3,944,536