MEMORANDUM OF DESIGNATION AND UNDERSTANDINGDesignation and Understanding • August 14th, 2019 • Blackstone Real Estate Income Trust, Inc. • Real estate investment trusts • New York
This MEMORANDUM OF DESIGNATION AND UNDERSTANDING (“Agreement”) is entered into as of June 2, 2019, by and among (i) BRE Jupiter LLC (“Buyer”), Blackstone Real Estate Partners VIII L.P. (together with its parallel funds and applicable alternative investment vehicles, “BREP VIII”) and Blackstone Real Estate Partners IX L.P. (together with its parallel funds and applicable alternative investment vehicles, “BREP IX”; and, together with the Buyer and BREP VIII, the “BREP Parties”) on the one hand, and (ii) Blackstone Real Estate Income Trust, Inc., a Maryland corporation (“BREIT”) on the other hand, to memorialize the understanding of the BREP Parties and BREIT in respect of their acquisition of certain entities being sold pursuant to the Transaction Agreement, dated as of June 2, 2019, by and among the Buyer Parties, the Seller Parties, the Acquired Companies, Management Holdings and the Seller Representative (each as defined therein; the Seller Parties, the Acquired Companies, Management
