---
schema_version: "secwatch.filing_event.v1"
accession: "0001662972-25-000050"
form_type: "8-K"
ticker: "BSTT"
cik: "0001662972"
company_name: "Blackstone Real Estate Income Trust, Inc."
filed_at: "2025-04-17T23:59:59+00:00"
generated_at: "2026-05-23T11:57:13.262673+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Blackstone Real Estate Income Trust Q1 same property NOI up ~4% YoY; net loss widens to ~$1.8B

## Summary
- Same property NOI attributable to stockholders est. $1.245B–$1.309B vs $1.231B in Q1 2024, ~4% increase.
- Estimated net loss for Q1 2025 ranges from $1.803B to $1.895B, compared to $170M net loss in Q1 2024.
- Large non-cash charges include depreciation $806M–$848M, loss from unconsolidated entities $746M–$784M, and interest expense $747M–$785M.
- Management fee stable at $168M vs $187M in prior year period.
- Data is preliminary and unaudited; final results may differ materially after completion of review.

## SEC filing metadata
- accession: 0001662972-25-000050
- form_type: 8-K
- ticker: BSTT
- cik: 0001662972
- company_name: Blackstone Real Estate Income Trust, Inc.
- filed_at: 2025-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1662972/000166297225000050/0001662972-25-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1662972/000166297225000050/breit-20250416.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001662972-25-000050
- JSON: https://secwatch.observer/filing/0001662972-25-000050.json
- Plain text: https://secwatch.observer/filing/0001662972-25-000050.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.