Blackstone Real Estate Fund Enters Material Agreement

TL;DR

Blackstone Real Estate Fund signed a big deal, details TBD.

AI Summary

On September 12, 2025, Blackstone Private Real Estate Credit and Income Fund entered into a material definitive agreement. The filing does not disclose specific details of the agreement or any associated dollar amounts.

Why It Matters

This filing indicates a significant new development for the Blackstone Private Real Estate Credit and Income Fund, which could impact its future operations and investor returns.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and implications of the material definitive agreement.

Key Players & Entities

• Blackstone Private Real Estate Credit and Income Fund (company) — Registrant
• September 12, 2025 (date) — Date of Report
• 345 Park Avenue, New York, NY 10154 (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $250.00 million — greement provides for advances of up to $250.00 million in the aggregate, which may be increase
• $500.00 million — aggregate, which may be increased up to $500.00 million in the aggregate at the Administrative
• $25.00 million — of not less than an amount equal to (x) $25.00 million plus (y) 25% of the dollar value of all

Filing Documents

• d94975d8k.htm (8-K) — 25KB
• 0001193125-25-202353.txt ( ) — 129KB
• brec-20250912.xsd (EX-101.SCH) — 3KB
• brec-20250912_lab.xml (EX-101.LAB) — 16KB
• brec-20250912_pre.xml (EX-101.PRE) — 10KB
• d94975d8k_htm.xml (XML) — 3KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 12, 2025 Blackstone Private Real Estate Credit and Income Fund (Exact name of registrant as specified in its charter) Delaware 814-01853 33-6657275 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 345 Park Avenue , 24th Floor New York , NY 10154 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 583-5000 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: None Title of each class Trading Symbol(s) Name of each exchange on which registered Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item1.01. Entry into a Material Definitive Agreement. On September 12, 2025, a special-purpose wholly-owned subsidiary (the " Seller ") of Blackstone Private Real Estate Credit and Income Fund (the " Company ") entered into a Master Repurchase Agreement (the " Repurchase Agreement ") with Canadian Imperial Bank of Commerce (the " Administrative Agent "), as administrative agent for the financial institutions party thereto as buyers (the " Buyers "). The Repurchase Agreement provides for advances of up to $250.00 million in the aggregate, which may be increased up to $500.00 million in the aggregate at the Administrative Agent's discretion. This amount is available to be drawn by the Seller in U.S. Dollars and Canadian Dollars. The Company expects to use the Repurchase Agreement to finance the acquisition or origination of eligible assets as more particularly described in the Repurchase Agreement. Advances under the Repurchase Agreement accrue interest at a per annum pricing rate equal to the sum of (i) term SOFR (with respect to Advances in U.S. Dollars) or term CORRA (with respect to Advances in Canadian Dollars) plus (ii) a margin to be agreed between the Seller and the Administrative Agent, on behalf of the Buyers, depending on the attributes of the purchased assets. The Repurchase Agreement has a two-year initial term, during which new advances can be made (the " Availability Period "). The Availability Period may be extended for additional one-year terms at the Administrative Agent's, on behalf of Buyers, discretion. If the Availability Period is not extended, the Seller may extend the term of the advances then outstanding under the Repurchase Agreement for a period commencing on the expiration of the Availability Period and ending on the fully-extended maturity date of the last remaining asset subject to an advance under the Repurchase Agreement. In connection with the Repurchase Agreement, the Company executed a Guaranty in favor of the Buyer (the " Guaranty "), pursuant to which the Company guarantees certain obligations of the Seller under the Repurchase Agreement. The Repurchase Agreement and the Guaranty contain various affirmative and negative covenants including the following financial covenant applicable to the Company: minimum net asset value of not less than an amount equal to (x) $25.00 million plus (y) 25% of the dollar value of all purchases of common shares in the Company occurring after June 30, 2025 minus (z) the dollar amount paid or distributed to repurchase common shares in the Company in connection with a tender offer or any other repurchases after June 30, 2025. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLACKSTONE PRIVATE REAL ESTATE CREDIT AND INCOME FUND Date: September 12, 2025 By: /s/ William Renahan Name: William Renahan Title: Chief Complian

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View this 8-K filing on SEC EDGAR