Blackstone Real Estate Income Trust, Inc.

Item 3.02. Unregistered Sales of Equity Securities On September 1, 2026, Blackstone Real Estate Income Trust, Inc. (the “Company”) sold unregistered shares of the Company’s common stock (the “Shares”) for aggregate consideration of approximately $26.5 million. The following table details the Shares sold: Title of Securities Number of Shares Sold Aggregate Consideration(1) ────────────────────────────────────────────────────────────────────────────────── Class S-2 Shares 1,796,772 $26,500,443 (1) Aggregate consideration for Class S-2 Shares includes upfront selling commissions of approximately $204,153. The purchase price was equal to the net asset value per Class S-2 share as of July 31, 2026, plus applicable upfront selling commissions. All of the upfront selling commissions were retained by, or reallowed (paid) to, participating broker-dealers. The offer and sale of the Shares were made as part of the Company’s continuous private offering to investors that are accredited investors (as defined in Regulation D under the Securities Act of 1933, as amended (the “Securities Act”)) and were exempt from the registration provisions of the Securities Act pursuant to Section 4(a)(2) and Regulation D thereunder.