v3.26.3
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income
Accumulated Deficit and Cumulative Distributions
Non-controlling Interests
Non-controlling Interests
Non- controlling Interests Attributable to BREIT OP
Non-controlling Interests
Non- controlling Interests attributable to Consolidated Subsidiaries
Beginning Balance at Dec. 31, 2024 $ 34,694,130 $ 27,353,907 $ 36,902 $ 42,781,930 $ 383,272 $ (15,848,197)   $ 2,964,555 $ 4,375,668
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Common stock issued 1,587,360 1,587,360 662 1,586,698          
Increase /Reduction in accrual for offering costs, net (285,675) (285,675)   (285,675)          
Distribution reinvestment 893,041 784,657 569 784,088       108,384  
Common stock/units repurchased (4,940,774) (4,890,073) (3,553) (4,886,520)       (50,701)  
Amortization of compensation awards 53,540 53,540 539 53,001          
Net loss (3,117,422) (2,823,797)       (2,823,797)   (216,890) (76,735)
Other comprehensive (loss) income (158,052) (110,008)     (110,008)     (8,168) (39,876)
Distributions declared on common stock and OP units (1,781,819) (1,643,424)       (1,643,424)   (138,395)  
Contributions from non-controlling interests 749,631             702,860 46,771
Operating distributions to non-controlling interests (107,073)               (107,073)
Capital distributions to and redemptions of non-controlling interests (266,884) 10,804   10,804         (277,688)
Allocation from redeemable non-controlling interests 482 482   482          
Ending Balance at Sep. 30, 2025 27,320,485 20,037,773 35,119 40,044,808 273,264 (20,315,418)   3,361,645 3,921,067
Beginning Balance at Jun. 30, 2025 29,229,311 21,761,336 35,535 40,555,177 306,101 (19,135,477)   3,284,138 4,183,837
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Common stock issued 491,108 491,108 216 490,892          
Increase /Reduction in accrual for offering costs, net 23,766 23,766   23,766          
Distribution reinvestment 294,917 256,409 184 256,225       38,508  
Common stock/units repurchased (1,329,371) (1,308,485) (950) (1,307,535)       (20,886)  
Amortization of compensation awards 12,995 12,995 134 12,861          
Net loss (710,710) (638,682)       (638,682)   (54,662) (17,366)
Other comprehensive (loss) income (41,360) (32,837)     (32,837)     (2,817) (5,706)
Distributions declared on common stock and OP units (590,672) (541,259)       (541,259)   (49,413)  
Contributions from non-controlling interests 170,363             166,777 3,586
Operating distributions to non-controlling interests (28,870)               (28,870)
Capital distributions to and redemptions of non-controlling interests (204,880) 9,534   9,534         (214,414)
Allocation from redeemable non-controlling interests 3,888 3,888   3,888          
Ending Balance at Sep. 30, 2025 27,320,485 20,037,773 35,119 40,044,808 273,264 (20,315,418)   3,361,645 3,921,067
Beginning Balance at Dec. 31, 2025 26,527,662 19,332,084 35,210 40,302,620 307,865 (21,313,611)   3,469,765 3,725,813
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Common stock issued 2,512,598 2,512,598 1,749 2,510,849          
Increase /Reduction in accrual for offering costs, net (33,754) (33,754)   (33,754)          
Distribution reinvestment 912,721 770,347 534 769,813       142,374  
Common stock/units repurchased (2,944,848) (2,927,184) (2,046) (2,925,138)       (17,664)  
Amortization of compensation awards, net of tax withholding on net share settlement 37,467 37,467 50 37,417          
Net loss (1,142,901) (919,770)       (919,770)   (92,357) (130,774)
Other comprehensive (loss) income 75,827 36,677     36,677     3,927 35,223
Distributions declared on common stock and OP units (1,797,976) (1,622,024)       (1,622,024)   (175,952)  
Contributions from non-controlling interests 1,198,589             925,249 273,340
Operating distributions to non-controlling interests (113,794)               (113,794)
Capital distributions to and redemptions of non-controlling interests (222,556) (1,805)   (1,805)       35,000 (185,751)
Allocation from redeemable non-controlling interests 14,761 14,761   14,761          
Ending Balance at Sep. 30, 2026 25,023,796 17,199,397 35,497 40,674,763 344,542 (23,855,405)   4,220,342 3,604,057
Beginning Balance at Jun. 30, 2026 25,202,982 17,614,169 35,330 40,419,220 308,611 (23,148,992)   3,861,855 3,726,958
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Common stock issued 808,640 808,640 552 808,088          
Increase /Reduction in accrual for offering costs, net (12,758) (12,758)   (12,758)          
Distribution reinvestment 310,455 258,412 178 258,234     $ 52,043    
Common stock/units repurchased (822,335) (819,511) (561) (818,950)       (2,824)  
Amortization of compensation awards, net of tax withholding on net share settlement 18,494 18,494 (2) 18,496          
Net loss (294,154) (160,890)       (160,890)   (18,060) (115,204)
Other comprehensive (loss) income 60,872 35,931     35,931     3,884 21,057
Distributions declared on common stock and OP units (609,404) (545,523)       (545,523) $ (63,881)    
Contributions from non-controlling interests 579,786             422,325 157,461
Operating distributions to non-controlling interests (34,483)               (34,483)
Capital distributions to and redemptions of non-controlling interests (186,783) (51)   (51)       (35,000) (151,732)
Allocation from redeemable non-controlling interests 2,484 2,484   2,484          
Ending Balance at Sep. 30, 2026 $ 25,023,796 $ 17,199,397 $ 35,497 $ 40,674,763 $ 344,542 $ (23,855,405)   $ 4,220,342 $ 3,604,057