Motilal Oswal
  • SENSEX
    NIFTY 50
Motilal Oswal
Real Estate

India’s first REIT: Five things that you need to know about the BlackStone-Embassy listing

Updated : August 07, 2018 07:01 AM IST

Blackstone Group LP, the biggest private equity investor in the Indian real estate space, with a portfolio of  $5 billion plus, will lead India’s first REIT with 80% share of Blackstone-Embassy REIT.The iconic Express Tower in Mumbai, The 247 Park in Vikhroli, Blue Ridge Special Economic Zone (SEZ), another IT SEZ that it bought from DLF in Pune and Galaxy IT Park & Oxygen Boulevard in Noida are amongst Blackstone’s assets that will be a part of it.
Embassy Office Parks on its part will now exclude Embassy Tech Village from the REIT and most of Embassy GolfLinks Business Park.Only 8 percent of Embassy GolfLinks will make it into the first REIT, and that too as shares listed within the 20 percent block reserved for under-construction projects and investments. The latter asset is owned in a JV partnership with KJ George, who is a minister in the Karnataka government.
There is substantial global investor interest in the India office space story. In investor roadshows, large banks such as Nomura and JP Morgan Chase have expressed significant appetite for the Blackstone-Embassy REIT.
India’s first REIT: Five things that you need to know about the BlackStone-Embassy listing
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV