Blackstone in talks with Carnival for Rs 2,200-cr asset

Blackstone is the largest owner of office space in the country, with a portfolio of 70 million sq ft

US-based private equity firm Blackstone is in the final leg of negotiations to buy a commercial property of Mumbai-based Carnival Group in Chandigarh.
 
The deal size will be around Rs 2,200 crore.  The deal will be one of the largest commercial property deals this year after private equity (PE) firm Xander group acquired 4.6-million-square-feet (sq ft) Special Economic Zone of Shriram Properties and Sun Apollo, a PE fund manager.
 
The size of the commercial property of Carnival is about 1.8 million sq ft, including 1-million-sq-ft mall, a Hyatt Hotel, and some office space.
 
Carnival bought the property