Private Equity

PE Fund Investments

Kotak Realty invests in Embassy REIT as Blackstone sells shares worth Rs.2,650-Cr

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Global PE investor Blackstone raised around USD 325 million (INR 2,650 crore) by selling 7.7 crore shares/units in Embassy Office Parks REIT through block deals at INR 345 per share. Abu Dhabi Investment Authority (ADIA) and Kotak Realty Fund have bought shares in the block deal. ICICI Prudential, HDFC Life and Kotak Mutual Fund are among the other buyers. Post this deal, Blackstone's stake will come down to 24 per cent from around 32 per cent earlier. Embassy REIT owns and operates a 42.8 million square feet portfolio of eight infrastructure-like office parks and four city-centre office buildings in Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). Its portfolio comprises 33.8 million square feet of the completed operating area. The portfolio also comprises strategic amenities, including four operational business hotels, two under-construction hotels and a 100 MW solar park supplying renewable energy to tenants.