BREIT 2017 Annual Report

F-24 15. Quarterly Financial Information (Unaudited) The following tables presents the Company’s quarterly results: 2017 March 31 June 30 September 30 December 31 Total revenues $ 2,444 $ 28,339 $ 48,904 $ 78,245 Net loss $ (1,267) $ (16,701) $ (31,847) $ (37,735) Net loss attributable to BREIT stockholders $ (1,267) $ (16,701) $ (31,725) $ (36,565) Net loss per share $ (0.03) $ (0.22) $ (0.28) $ (0.24) 2016 For the Period March 2, 2016 (date of initial capitalization) through March 31, June 30 September 30 December 31 Total revenues $ — $ — $ — $ — Net loss $ — $ — $ — $ (115) Net loss attributable to BREIT stockholders $ — $ — $ — $ (115) Net loss per share $ — $ — $ — $ (5.74) 16. Subsequent Events Acquisitions Subsequent to December 31, 2017, the Company acquired the Canyon Industrial Portfolio (as defined below) and an aggregate of $289.9 million of real estate across two separate transactions, exclusive of closing costs. The acquisitions were related to multifamily and industrial properties. Subsequent to December 31, 2017, the Company purchased an aggregate of $169.5 million of floating-rate CMBS. Canyon Industrial Portfolio On March 9, 2018, the Company acquired a 22 million square foot industrial portfolio (the “Canyon Industrial Portfolio”). The Canyon Industrial Portfolio was acquired from Cabot Industrial Value Fund IV, L.P. and Cabot Industrial Value Fund IV Manager, Limited Partnership, each a third-party, for approximately $1.8 billion, excluding closing costs. The Canyon Industrial Portfolio consists of 146 industrial properties primarily concentrated in Chicago (18% of November 2017 base rent), Dallas (12%), Baltimore/Washington, D.C. (12%), Los Angeles/Inland Empire (7%), South/Central Florida (7%), New Jersey (7%), and Denver (6%). The acquisition of the Canyon Industrial Portfolio was funded through a combination of a $1.1 billion mortgage secured by the Canyon Industrial Portfolio, a $200.0 million mezzanine loan secured by equity interests in the Canyon Industrial Portfolio, and available cash. The mortgage has a term of 84 months and an interest rate of 4.10% per annum and the mezzanine loan has a term of 84 months and an interest rate of 5.85% per annum. Status of the Offering As of March 19, 2018, the Company had sold an aggregate of 226,804,071 shares of its common stock (consisting of 163,218,275 Class S shares, 9,741,552 Class T shares, 6,823,284 Class D shares, and 47,020,960 Class I shares) in the Offering resulting in net proceeds of $2.3 billion to the Company as payment for such shares.