Industrial · New Jersey · Pennsylvania
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Offerings are available solely to accredited investors and are made only by a sponsor’s private placement memorandum.
BXREX Portfolio II DST is a Delaware statutory trust sponsored by Blackstone Real Estate Exchange LLC, an indirect subsidiary of Blackstone Real Estate Income Trust, Inc. (BREIT), offering up to $187,308,863 in beneficial interests. The Trust owns two single-tenant industrial distribution buildings totaling approximately 862,549 rentable square feet: the 506,759-square-foot Middletown Property in Middletown, Pennsylvania (built 1995-1997, leased to Grocery Outlet Inc.) and the 355,790-square-foot Wiley Property in Somerset, New Jersey (built 2023, leased to ID Logistics Warehousing, LLC, with a portion of its rooftop separately leased to a solar operator). Both Properties were acquired without any permanent financing.
The Properties are 100% leased to BXREX Portfolio II LeaseCo, LLC, an affiliate of the Operating Partnership, under a 10-year triple-net Master Lease (May 2026 to April 2036) with fixed Stated Rent, fully and unconditionally guaranteed by BREIT Operating Partnership L.P. The Master Tenant, not the Investors, bears the operating and re-leasing risk on the underlying Industrial Leases and the Solar Lease. Beginning 24 months after the Offering closes, the Operating Partnership holds a Fair Market Value Option, exercisable at its sole discretion, to acquire Investors' interests either for a class of Operating Partnership units (intended to qualify as a Section 721 exchange) during a subsequent 12-month window, or for cash on an Investor-by-Investor basis thereafter. There is no assurance the Option will be exercised, and absent a sale of the Properties or exercise of the Option, an Investor's holding period is not otherwise fixed.
This offering is debt-free. It uses no financing, so there is no loan amount, rate, term or refinancing risk.
| Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7 | Yr 8 | Yr 9 | Yr 10 |
|---|---|---|---|---|---|---|---|---|---|
| 4.64% | 4.64% | 4.64% | 4.64% | 4.64% | 5.11% | 5.11% | 5.11% | 5.11% | 5.11% |
Projections from the sponsor’s offering documents. Distributions are not guaranteed and may be lower than shown or suspended. See the PPM for assumptions.
This page summarizes information from the sponsor’s private placement memorandum and is provided for informational purposes only. It is not an offer to sell or a solicitation of an offer to buy any security; offers are made only by the PPM to accredited investors. Figures are as of the offering date and subject to change. DST interests are speculative, illiquid, and involve a high degree of risk, including loss of principal. Securities offered through Aurora Securities, Inc., member FINRA/SIPC.
