Blackstone (NYSE:BX) Inc said on Monday that it had once more restricted distributions from its $70 billion real estate income trust in March due to a spike in redemption requests.

Since November of last year, Blackstone has used its prerogative to restrict investor withdrawals from BREIT when the requests have surpassed a predetermined 5% of the fund’s net asset value.

The company reported in a letter to investors that only 15% of the $4.5 billion in total redemption requests for the month were satisfied by BREIT’s $666 million in withdrawal requests in March.

The total amount of redemption requests for March increased by 15% compared to the roughly $3.9 billion investors requested in February, but decreased by 16% compared to the $5.3 billion Blackstone received in January.

According to Blackstone President Jonathan Gray, as the company clears its backlog, the volume of withdrawal requests should return to normal over time. This was said in a January investor results call.