Blackstone to sell $400 mn stake in REIT Embassy, ADIA eyes investment

Blackstone will sell a stake worth up to $400 million in Embassy Office Parks REIT, the country’s biggest real estate investment trust, via stock exchange block deals, three sources familiar with the matter told Reuters.

Abu Dhabi’s sovereign wealth fund, one of the world’s largest, is likely to pick up at least half of the stake that Blackstone is to sell, one of the sources said.  Embassy Office Parks, India’s first REIT to list in 2019, owns and operates more than 42 million square feet portfolio of office parks and office buildings in cities such as Bengaluru and Mumbai. It is