Blackstone's realty investee firms likely to take the REIT route

After the success of the initial public offering (IPO) of Embassy Office Parks’ real estate investment trust (REIT), two more of US-based Blackstone's investee firms — the rental arm of Mumbai-based K Raheja Corp and Pune based-Panchshil Realty — could join the queue for REITs in the country, said a person in the know.

The rental arm of K Raheja Corp, promoted by billionaire property developer C L Raheja, could float a REIT this year and go public next year. Panchshil could float it by 2021, said people in the know. 

“Raheja has a portfolio of about 25 million sq