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Last December, one of the largest companies in the world began to limit withdrawals by investors from its Real Estate Investment Trust (REIT).
https://www.reuters.com/business/finance/blackstone-limits-redemptions-69-billion-reit-2022-12-01/
Investors were spooked, but the media told them that all was fine. But the same restrictions have continued to this day, and so cash has been leaving the fund steadily.
In early March, Blackstone defaulted on a $562.5 million bond.
One would think this would be big news in the media, but only the financial media covered the story, which has a limited audience. If Blackstone is doing just fine, they are not acting like it.
The company has now raised $30 billion for its real estate fund, supposedly to purchase more properties now that prices have dropped.
But is this just an attempt to refill its coffers? Or perhaps to pay on the defaulted bond from last month? If investors were blocked from withdrawing $71 billion just in February alone, it does not appear that $30 billion in new money is going to correct the situation.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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