v3.26.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Total revenues $ 1,792,424 $ 1,943,444 $ 5,590,717 $ 5,996,997
Expenses        
Operating expenses 872,278 916,934 2,624,459 2,796,816
General and administrative 12,674 17,958 45,228 50,958
Management fee 181,275 166,757 530,115 502,074
Performance participation allocation 163,016 124,029 562,788 355,028
Impairment of investments in real estate 496,681 27,386 731,148 368,757
Depreciation and amortization 721,775 788,475 2,224,775 2,424,225
Total expenses 2,447,699 2,041,539 6,718,513 6,497,858
Other income (expense)        
Income (loss) from unconsolidated entities 475,615 (149,792) 459,125 (887,816)
Income from investments in real estate debt 60,098 142,396 220,541 408,928
Change in net assets of consolidated securitization vehicles 10,593 18,613 36,836 89,005
Income (loss) from interest rate derivatives 119,469 (159,269) 73,429 (758,028)
Net gain on dispositions of real estate 366,087 332,883 1,221,919 933,186
Interest expense, net (676,137) (768,735) (1,976,236) (2,312,297)
Gain (loss) on extinguishment of debt 17,607 (17,186) (19,723) (54,060)
Other expense (14,182) (14,332) (35,928) (40,341)
Total other income (expense) 359,150 (615,422) (20,037) (2,621,423)
Net loss (296,125) (713,517) (1,147,833) (3,122,284)
Net loss attributable to non-controlling interests in consolidated subsidiaries 117,175 18,164 135,706 78,416
Net loss attributable to non-controlling interests in BREIT OP 18,060 56,671 92,357 220,071
Net loss attributable to BREIT stockholders (160,890) (638,682) (919,770) (2,823,797)
Class I, Class S, Class S-2, Class D, Class D-2, Class T, Class T-2, and Class C        
Other income (expense)        
Net loss attributable to BREIT stockholders $ (160,617) $ (638,682) $ (918,219) $ (2,823,797)
Net loss per share of common stock — basic (in dollars per share) $ (0.05) $ (0.18) $ (0.26) $ (0.79)
Net loss per share of common stock — diluted (in dollars per share) $ (0.05) $ (0.18) $ (0.26) $ (0.79)
Class L        
Other income (expense)        
Net loss attributable to BREIT stockholders $ (273) $ 0 $ (1,551) $ 0
Net loss per share of common stock — basic (in dollars per share) $ (0.02) $ 0 $ (0.18) $ 0
Net loss per share of common stock — diluted (in dollars per share) $ (0.02) $ 0 $ (0.18) $ 0
Rental revenue        
Revenues        
Total revenues $ 1,573,612 $ 1,719,143 $ 4,923,971 $ 5,322,192
Expenses        
Operating expenses 777,835 827,809 2,337,888 2,515,584
Hospitality revenue        
Revenues        
Total revenues 132,949 123,399 414,611 396,714
Expenses        
Operating expenses 94,443 89,125 286,571 281,232
Other revenue        
Revenues        
Total revenues $ 85,863 $ 100,902 $ 252,135 $ 278,091