BXREX Portfolio I
Legal trust name BXREX Portfolio I DST
Offering size$175.6M
Asset typeMultifamily
LocationNV
FinancingNot disclosed
Regulation D exemptionRule 506(b)
Sponsor-reported potential 721/UPREIT exitYes
First filedOct 31, 2025
Last filedOct 31, 2025
Minimum$1.0M
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
BXREX Portfolio I DST is a Blackstone-sponsored Delaware Statutory Trust structured for 1031 exchange investors. An SEC Form D filed on October 31, 2025 reported a $175,555,053 offering. The trust holds two stabilized Class A multifamily communities totaling 612 units: Vue at Centennial in northwest Las Vegas, Nevada, and a Cypress community in suburban Houston, Texas. Both assets were previously held in Blackstone's BREIT portfolio, and the trust is capitalized on an all-cash, zero-debt basis. Sponsor materials dated June 2026 report combined occupancy of 94%. The issuer's prior entity name was BR-X Portfolio I DST.
~$175.6M debut DST of Blackstone Real Estate Exchange (BREIT affiliate); 721 UPREIT option into BREIT; 506(b), no public marketing
Based on issuer-filed Form D notices through Oct 31, 2025. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount0.0%Current Form D data does not support a reliable raise-progress estimate.
Not enough filing history for a trend line.
Capital sold, per latest Form D—
Remaining amount reported in latest Form D$175,555,053
Investor count reported in latest Form DNot disclosed
Stated minimum investment$1,000,000
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First filedOct 31, 2025
Latest filingOct 31, 2025
Filings tracked1
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
Portfolio and structure
BXREX Portfolio I DST holds two stabilized Class A multifamily communities totaling 612 units — Vue at Centennial in northwest Las Vegas, Nevada, and a Cypress community in suburban Houston, Texas — both previously held in Blackstone's BREIT portfolio and assembled into a $175.6 million all-cash, zero-debt Delaware Statutory Trust 1. Sponsor materials dated June 2026 report combined occupancy of 94% and a $1,000,000 minimum investment 1.
Sponsor and identity
The sponsor of the issuer is Blackstone Real Estate Exchange LLC, located at 345 Park Avenue, New York, NY 10154 2. The trust's prior entity name was BR-X Portfolio I DST before it was renamed to BXREX Portfolio I DST 2. The issuer filed a Form D notice on October 31, 2025 listing a total offering amount of $175,555,053 3.
Platform context
Blackstone Real Estate Income Trust (BREIT) launched a Delaware Statutory Trust platform in November 2025 aimed at ultra-high-net-worth and institutional investors seeking 1031 tax-deferred exchanges, operating alongside BREIT through two share classes, Class L and Class L-2 4.
In the news
Frequently asked questions
Is BXREX Portfolio I currently active?
BXREX Portfolio I is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for BXREX Portfolio I?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.