Blackstone Inc. — Director's Dealing 2021

Apr 29, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Blackstone Real Estate Income Fund II (N/A)
CIK: 0001589029
Period of Report: 2021-04-26

Reporting Person: Blackstone Real Estate Income Advisors L.L.C. (Invst Adviser & its affiliates)
Reporting Person: Blackstone Real Estate Special Situations Advisors L.L.C. (Invst Adviser & its affiliates)
Reporting Person: Blackstone Holdings I L.P. (Invst Adviser & its affiliates)
Reporting Person: Blackstone Holdings I/II GP L.L.C. (Invst Adviser & its affiliates)
Reporting Person: Blackstone Group Inc (Invst Adviser & its affiliates)
Reporting Person: Blackstone Group Management L.L.C. (10% Owner)
Reporting Person: SCHWARZMAN STEPHEN A (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-26	Institutional Class II Common Shares of Beneficial Interest	J	8421.853	$852.051	Disposed	6788.129	Direct
2021-04-26	Advisor Class I Common Shares of Beneficial Interest	J	33.8	$841.924	Disposed	26.517	Direct

Footnotes

F1: As previously disclosed, on October 15, 2020, shareholders of the Issuer approved the liquidation of the Issuer. Reflects a compulsory redemption by the Issuer in connection with a liquidating distribution pursuant to the Issuer's plan of liquidation.

F2: A portion of the common shares was acquired through the Issuer's dividend reinvestment plan.

F3: Blackstone Real Estate Special Situations Advisors L.L.C. is the sole member of Blackstone Real Estate Income Advisors L.L.C. Blackstone Holdings I L.P. is the managing member of Blackstone Real Estate Special Situations Advisors L.L.C. Blackstone Holdings I/II GP L.L.C. (f/k/a Blackstone Holdings I/II GP Inc.) is the general partner of Blackstone Holdings I L.P. The Blackstone Group Inc.(f/k/a The Blackstone Group L.P.) is the sole member of Blackstone Holdings I/II GP L.L.C. Blackstone Group Management L.L.C. is the sole holder of the Series II preferred stock of The Blackstone Group Inc. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.

F4: Information with respect to each of the Reporting Persons is given solely by such Reporting Persons, and no Reporting Person has responsibility for the accuracy of completeness of information supplied by another Reporting Person.

F5: Each of the Reporting Persons (other than Blackstone Real Estate Income Advisors L.L.C. to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by Blackstone Real Estate Income Advisors L.L.C., except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than Blackstone Real Estate Income Advisors L.L.C. to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.