According to sources, Blackstone Group sold its 5.7 crore units worth more than Rs 2,000 crore in Embassy Office Parks real estate investment trust (REIT) as a strategy to monetize part of its investment.
The first real estate investment trust in the country is Embassy REIT, which is sponsored by real estate companies Embassy Group and Blackstone Group.
In April 2019, Embassy Office Parks RETI was listed on the stock exchange after raising approximately Rs 5,000 crore through a public offering.
According to Bombay Stock Exchange (BSE) data, Blackstone has sold about 2.73 crore units for Rs 355 per unit, yielding close to Rs 969 crore.
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