 "Aditya Virwani")
Bengaluru-based property developer Embassy Group will again explore more opportunities in warehousing after closing a Rs 1,800-crore warehousing deal with US-based fund manager Blackstone.
Embassy is in the final stages of selling Embassy Industrial Parks — its warehousing business with private equity (PE) major Warburg Pincus — to Blackstone.
The foray will be made through its merged entity with Indiabulls Real Estate. Embassy Group is merging the assets of Indiabulls Real Estate with itself.
“There is no no-compete clause. We can look at warehousing after the deal,” said Aditya Virwani, chief operating officer at Embassy Group.
Embassy could tie up with a PE fund
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