Private Equity PE Fund Investments
Blackstone exits Mindspace Business Parks REIT with Rs.1,737-Cr, registers 1.58x return
Private Equity firm Blackstone has sold its 9.16% stake in publicly-listed Mindspace Business Parks REIT - which is sponsored by the K Raheja Group - on Jan 10, 2022 through a bulk deal on the BSE. The sale aggregated to INR 1,737.33 crore.
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From the Venture Intelligence PE-RE Deal database: In Feb 2017, Blackstone had bought a 15% stake in the commercial space unit of K Raheja Corp for around USD 250 million (INR 1,700 Crore). K Raheja, at that time, had office properties of 20 million square feet in Mumbai, Navi Mumbai, Hyderabad and other cities. The company also owns department store chains Shoppers Stop and Inorbit Malls.