Notice of Facility Reduction, dated December 23, 2020

Exhibit 10.9.2

Execution Version

NOTICE OF FACILITY REDUCTION
December 23, 2020

Blackstone Holdings Finance Co. L.L.C.

345 Park Avenue

New York, New York 10154

Attn: Jeff Iverson

RE:Uncommitted Unsecured Line of Credit Agreement, dated January 23, 2017 (as amended,

amended and restated, supplemented or otherwise modified from time to time, the “Line of Credit Agreement”), among Blackstone Holdings Finance Co. L.L.C., as lender (the “Lender”), Blackstone Real Estate Income Trust, Inc., as borrower, and the other borrowers from time to time party thereto.

Ladies and Gentlemen:

The undersigned borrower (the “Borrower”) hereby notifies the Lender that the Borrower is reducing the facility size in the amount of $50,000,000 (the “Facility Reduction”), decreasing the Line (as defined in the Line of Credit Agreement) from $150,000,000 to $100,000,000, such Facility Reduction to be effective as of January 22, 2021.

[Remainder of Page Intentionally Left Blank.
Signature Page(s) Follow.]

IN WITNESS WHEREOF, the undersigned has executed and delivered this Facility Extension Request as of the date first written above.

BORROWER:

Blackstone Real Estate Income

Trust, Inc., a Maryland corporation

By:/s/ Paul Quinlan
      Name: Paul Quinlan
      Title: Authorized Signatory

Acknowledged and ACCEPTED as of

the date first above written:

Blackstone Holdings Finance Co. L.L.C.

By: /s/ Eric Liaw
      Name: Eric Liaw

      Title: Authorized Signatory