Blackstone gets bids from top global investors for Pune IT park

The investment firm had bought it from IDFC Alternatives in 2014

Global investors such as CPPIB, GIC and Brookfield, among others, have put in bids for an infotech park (IT park) put on the block by global investment firm Blackstone in Hinjewadi area of Pune, sources said.
 
Blackstone is selling its 1.5-million-sq ft BlueRidge special economic zone (SEZ) it had bought from private equity fund manager IDFC Alternatives in 2014, along with the 1.3-million-sq ft Galaxy IT Park in Noida, for Rs 900 crore. Though the valuation sought by Blackstone is not known, the investment firm is looking at cap rates below eight per cent, sources said.
 
Cap rate