What is Blackstone's minority interest in operating partnerships?

Blackstone (BX) reported minority interest in operating partnerships of $4.42B in Q1 2026.

How has Blackstone's minority interest in operating partnerships changed year-over-year?

Blackstone's minority interest in operating partnerships increased by 7.7% year-over-year, from $4.10B to $4.42B.

What is the long-term trend for Blackstone's minority interest in operating partnerships?

Over 5 years (2020 to 2025), Blackstone's minority interest in operating partnerships has grown at a 3.8% compound annual growth rate (CAGR), from $3.83B to $4.61B.

What does minority interest in operating partnerships mean?

The value of the company's real estate assets owned by external partners rather than the company itself.

Other

Minority Interest In Operating Partnerships

Blackstone Minority Interest In Operating Partnerships decreased by 4.2% to $4.42B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 7.7%, from $4.10B to $4.42B. Over 5 years (FY 2020 to FY 2025), Minority Interest In Operating Partnerships shows an upward trend with a 3.8% CAGR.

Analysis

StatementBalance Sheet Statement

SectionOther

CategoryCapital Allocation

SignalContext dependent

VolatilityStable

First reportedQ4 2018

Last reportedQ1 2026May 8, 2026

How to read this metric

An increase suggests higher reliance on joint venture structures or external capital partners for property ownership.

Detailed definition

Represents the portion of equity in consolidated operating partnerships that is held by third-party partners rather than...

Peer comparison

Common in REITs using UPREIT structures or joint ventures; peers will report similar minority interests in consolidated partnerships.

Metric ID: other_minority_interest_in_operating_partnerships

Historical Data

20 periods

	Q2 '21	Q3 '21	Q4 '21	Q1 '22	Q2 '22	Q3 '22	Q4 '22	Q1 '23	Q2 '23	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Value	$5.21B	$6.12B	$6.61B	$6.79B	$6.15B	$5.45B	$5.25B	$4.92B	$5.07B	$5.15B	$4.90B	$5.21B	$5.27B	$5.55B	$4.33B	$4.10B	$4.39B	$4.33B	$4.61B	$4.42B
QoQ Change	—	+17.3%	+8.1%	+2.7%	-9.5%	-11.4%	-3.6%	-6.3%	+3.0%	+1.7%	-4.9%	+6.2%	+1.2%	+5.3%	-22.0%	-5.1%	+7.0%	-1.4%	+6.5%	-4.2%
YoY Change	—	—	—	—	+17.9%	-11.0%	-20.6%	-27.6%	-17.5%	-5.4%	-6.7%	+5.8%	+3.9%	+7.6%	-11.7%	-21.2%	-16.7%	-22.0%	+6.6%	+7.7%

Range$4.10B – $6.79B

CAGR-3.4%

Avg YoY Growth-6.9%

Median YoY Growth-8.8%

Minority Interest In Operating Partnerships at Other Companies

Equity ResidentialEQR View metric

Frequently Asked Questions

What is Blackstone's minority interest in operating partnerships?: Blackstone (BX) reported minority interest in operating partnerships of $4.42B in Q1 2026.
How has Blackstone's minority interest in operating partnerships changed year-over-year?: Blackstone's minority interest in operating partnerships increased by 7.7% year-over-year, from $4.10B to $4.42B.
What is the long-term trend for Blackstone's minority interest in operating partnerships?: Over 5 years (2020 to 2025), Blackstone's minority interest in operating partnerships has grown at a 3.8% compound annual growth rate (CAGR), from $3.83B to $4.61B.
What does minority interest in operating partnerships mean?: The value of the company's real estate assets owned by external partners rather than the company itself.