Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT

17 Sep 2021 CW Team

According to sources, Blackstone Group sold its 5.7 crore units worth over Rs 2,000 crore in Embassy Office Parks real estate investment trust (REIT) as a strategy to monetise part of its investment.

The first real estate investment trust in the country is Embassy REIT, which is sponsored by realty firms Embassy Group and Blackstone Group.

In April 2019, Embassy Office Parks RETI got listed on the stock exchange market after raising about Rs 5,000 crore through a public issue.

As per Bombay Stock Exchange (BSE) data, Blackstone has sold about 2.73 crore units at Rs 355 per unit, making nearly Rs 969 crore.

Blackstone Group had sold its 5.7 crore units via multiple trading on stock exchanges and raised nearly Rs 2,025 crore, said the sources.

All the trades were not counted as bulk deals because some of them were below the threshold limit for such classifications.

Sources told the media that a total of 14 entities of Blackstone sold 5.7 crore units for Rs 2,025 crore.

On Wednesday, Embassy REIT's price declined by 4.76% to Rs 355.84 per unit on the BSE.

Embassy Group has about a 12% stake. It is estimated that after the deal, Blackstone's unitholding will fall by about 6% to 32%.

Last year in June 2020, Blackstone Group had raised nearly Rs 2,270 crore by selling its shares in Embassy Office Parks REIT.

Blackstone Group has deployed over $12.5 billion in the Indian real estate market.

Apart from Embassy Office Parks REIT, Blackstone has sponsored the second REIT of the country, Mindspace Business Parks REIT.

This year, the company acquired the office, retail business, hospitality portfolio of Prestige Group, a realty firm.

Currently, in India, Blackstone has more than $50 billion of assets under management.

Image Source

Also read: Tarc sells two assets worth Rs 295 crore to Blackstone

Also read: Blackstone to acquire Home Partners for $6 billion

Real Estate

11 May 2026

Danube Launches Greenz Villa Community in Dubai

Danube Properties has launched Greenz by Danube, a fully furnished master villa community in Dubai, unveiled by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, at an event attended by over 7,000 investors and business leaders.Located near Dubai International Academic City and Dubai Silicon Oasis, the development marks Danube’s first large-scale integrated villa community and is positioned within one of Dubai’s emerging residential corridors.The project will comprise three and four-bedroom townhouses along with five-bedroom semi-detached and twin villas...

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..