Global investment firm Blackstone on Wednesday sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore, according to sources.
Embassy Office Parks REIT is India s first Real Estate Investment Trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy group.
Blackstone sold its stake in the entity at around Rs 316 per share through open market transactions and at this price, the deal is valued at about Rs 7,100 crore, the sources said.
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Embassy REIT owns and operates a 45.3 million square feet portfolio of nine infrastructure-like office parks and four city centre office buildings in Bengaluru, Mumbai, Pune and the National Capital Region (NCR).