Embassy And Blackstone

Blackstone exits Embassy REIT; sells entire 23.5% stake for Rs 7,100 cr

Global fund Blackstone has sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore through block deal on stock exchanges, sources said. The company sold its units at around Rs 316 per share, sources said. Some of the existing unitholders have participated in the block deal. SBI Mutual Fund is a new investor, they added. Embassy Office Parks REIT is India's first Real Estate Investment Trust (REIT) sponsored by global investment firm Blackstone and Bengaluru-based realty firm Embassy group. It got listed in 2019 after raising around Rs 5,000 crore through public issue. Last year, Blackstone raised around USD 325 million (about Rs 2,650 crore) by selling its shares in Embassy Office Parks REIT. Post this deal, Blackstone's stake came down to 24 per cent from around 32 per cent earlier. Embassy REIT owns and operates a 45.3 million square feet portfolio of nine infrastructure-like office parks and four citycentre office buildings in Bengaluru, Mumb

Blackstone to exit embassy office parks in biggest India block sale in FY24

Affiliates of Blackstone Inc. are seeking to exit India's Embassy Office Parks REIT in an $833 million deal that will be the country's biggest block trade this year

Blackstone, Embassy to launch India's first real estate investment trust

Sebi had notified REIT's regulations in 2014, allowing setting up and listing of such trusts

Embassy-Blackstone REIT likely to hit Indian market early next year

The annual rental income of the portfolio is over Rs 20 billion and is expected to go up by 50 per cent in the next three years as rentals go up

Embassy, Blackstone may join hands for RMZ stake

Baring is also looking for buyers for its stake. It has appointed Standard Chartered Bank to find buyers