Private Placement (Form 8-K)

Item 3.02. Unregistered Sales of Equity Securities.

As of August 1, 2026, Blackstone Private Real Estate Credit and Income Fund (the "Company") sold unregistered common shares of beneficial interest, par value $0.01 per share (the "Common Shares") (with the final number of Common Shares being determined on August 21, 2026) pursuant to a subscription agreement entered into with the participating investors. The offer and sale of the Common Shares was exempt from the registration provisions of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) thereof and Regulation D thereunder and/or Regulation S under the Securities Act. The following table details the Common Shares sold:

Date of Unregistered Sale

Amount of Common Shares

Consideration

As of August 1, 2026 (number of Common Shares finalized on August 21, 2026)

272,642

$7,126,860