Global fund Blackstone has sold about 5.7 crore units in Embassy Office Parks REIT for over Rs 2,000 crore (USD 275 million) as part of its strategy to monetise part of its investment, sources said.
Embassy Office Parks REIT is the country’s first real estate investment trust (REIT), sponsored by the Embassy Group and Blackstone. Embassy REIT got listed on the stock exchanges in April 2019 after raising nearly Rs 5,000 crore through a public issue.
As per bulk deal data on BSE, Blackstone group entities have sold nearly 2.73 crore units at Rs 355 apiece, totalling around Rs 969 crore.
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However, sources said Blackstone group sold around 5.7 crore units through multiple trades on stock exchanges to raise about Rs 2,025 crore.
