US private equity firm Blackstone has inked India's biggest commercial real estate acquisition deal, which will give it 50% stake in a Bangalore builder-owned portfolio of three business parks for $200 mn, according to reports.
Reports stated that the deal beats Citigroup's acquisition of a Mumbai office building earlier this year for Rs 9.85bn.
Blackstone, which invests in realty firms, has bought stake in an SPV comprising three commercial properties totalling over 10 million sq ft Embassy Golf link and Manyata Embassy Business Park in Bangalore and Embassy Tech Zone in Pune, reports said.
India Infoline News Service / 08:59, Aug 25, 2014
The outlook is a flat start. The BankNifty has given a breakout but many of the large caps are remaining in a range keeping the main indices under pressure.