Blackstone Real Estate Income Trust Announces Preliminary H1 2026 Same‑Property NOI Up ~3%

What Happened
On July 22, 2026 (8‑K filed July 23, 2026), Blackstone Real Estate Income Trust, Inc. (BREIT) announced preliminary, unaudited financial results for the six months ended June 30, 2026. Based on the midpoint of its estimates, BREIT expects same‑property net operating income (NOI) to have increased approximately 3% versus the same period in 2025. The company reported a preliminary estimated GAAP net loss of about $830 million for the six‑month period. BREIT emphasized these results are preliminary, unaudited, and subject to change; Deloitte & Touche LLP has not audited or reviewed this preliminary data.

Key Details

• BREIT expects same‑property NOI (attributable to BREIT stockholders) at about $2.48 billion (midpoint of the preliminary range).
• Same‑property NOI is up ~3% year‑over‑year on a six‑month basis (based on midpoint).
• Preliminary estimated GAAP net loss for the six months ended June 30, 2026: roughly $830 million.
• Results are preliminary and unaudited; the company warned adjustments may be identified and Deloitte has not provided assurance.

Why It Matters
Same‑property NOI is a non‑GAAP measure BREIT uses to show property operating performance (occupancy, rents, leasing) excluding acquisitions, dispositions and many non‑property items. An increase in same‑property NOI suggests underlying property operations were stronger year‑over‑year for the period, but investors should weigh that against the large preliminary GAAP loss and remember the figures are unaudited and may change. The filing also contains standard forward‑looking cautionary language noting risks and possible adjustments.