Starting its next phase of growth in India, Blackstone-backed Embassy Office Parks REIT has announced an investment of Rs.23 bn for construction of 5.7 mn sq ft of office space over the next three years in cities including Bengaluru.
This fund is the second one to be raised through the NCD route.
Embassy Office Parks REIT has yielded 14% returns.
From its inception leading up to June 25, 2020, Embassy Office Parks REIT has yielded 14% returns.
Embassy Office Parks REIT, the real estate investment trust JV between Blackstone and Embassy Property Developments, is considering buy an office space worth Rs.65 bn from the latter.
REITs have a proven and successful track record in several Asian countries