Private equity and real estate giant The Blackstone Group Inc. aims to liquidate and terminate its Blackstone Real Estate Income Fund, Blackstone Real Estate Income Fund II and Blackstone Real Estate Income Master Fund, subject to shareholder approval.

If the planned dissolution is approved, the investment vehicles expect to return liquidation proceeds via quarterly distributions, while aiming to wrap up the liquidation around the middle of 2021.

The commercial mortgage-backed securities-focused fund's assets have recently started to see a recovery in pricing since the recent trough related to the coronavirus pandemic, according to a filing.

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