BREIT 2017 Annual Report

F-4 Blackstone Real Estate Income Trust, Inc. Consolidated Statements of Operations (in thousands, except share and per share data) For the Year Ended December 31, For the Period March 2, 2016 (date of initial capitalization) through December 31, 2017 2016 Revenues Rental revenue $ 110,429 $ — Tenant reimbursement income 10,952 — Hotel revenue 29,916 — Other revenue 6,635 — Total revenues 157,932 — Expenses Rental property operating 51,115 — Hotel operating 20,417 — General and administrative 7,692 115 Management fee 8,867 — Performance participation allocation 16,974 — Depreciation and amortization 121,793 — Total expenses 226,858 115 Other income (expense) Income from real estate-related securities 17,749 — Interest income 454 — Interest expense (36,884) — Other income 57 — Total other (expense) income (18,624) — Net loss $ (87,550) $ (115) Net loss attributable to non-controlling interests $ 1,292 $ — Net loss attributable to BREIT stockholders $ (86,258) $ (115) Net loss per share of common stock — basic and diluted $ (0.90) $ (5.74) Weighted-average shares of common stock outstanding, basic and diluted 95,586,290 20,000 See accompanying notes to consolidated financial statements.