The current low interest rate environment, and investors’ search for yield, will continue to support the appreciation of real estate, says Frank Cohen, Blackstone’s global head of Core+ Real Estate and chairman and CEO of Blackstone Real Estate Income Trust, Inc. (BREIT). The entry of Blackstone into public non-listed REITs (PNLRs) in 2017 via BREIT provided a significant boost to the sector, especially for net asset value (NAV) products. As of Oct. 31, BREIT had a total asset value of $37.2 billion, with 39% of its portfolio allocated to multifamily and 37% to industrial.