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Depends on your preferences:

1. If you want to do anything in RE: pick Blackstone REPE

2. If you want corporate PE: pick Blackstone REPE

3. If you want to do anything in finance: pick Blackstone REPE

Considerations

- My answers above would be different if this was GS IBD Classic (especially TMT/FIG)

- Since it's SA, you will be in better shape to recruit for non-RE stuff for FT with the Blackstone name. I've seen plenty REPE SA's that went into traditional PE FT programs

- You have the opportunity to be at the top MF on the street. The road to BB/EB and even MBD will always be open during FT recruiting, but it's definitely harder to get into Blackstone than it is GS. 

- Figure out return offer rates at both places. I know GS is usually on the lower end, unsure about Blackstone (although I have a feeling they're higher)

- Research where analysts from both places gone on to?

 

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