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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, Sep 15, 2014
Many a times parents overlook other goals as they are too busy focusing on just one goal, that is on their child's education. They are too emotionally involved in achieving this particular goal that they forget planning for their retirement and saving for other emergencies.