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Blackstone Group set to buy retail space from L&T Realty for Rs 1,000 cr

Market sources said the deal could be valued at Rs 900-1,000 crore

Raghavendra Kamath  |  Mumbai 

US-based private equity giant Blackstone is in the final stage of talks with L&T Realty to buy 1 million square feet (sq ft) of office property in Seawoods in Navi Mumbai. Market sources said the deal could be valued at Rs 900-1,000 crore, given rents in the area. Sources in L&T Realty said the company was expecting Rs 1,400 crore. The property is part of a 40-acre integrated transit-oriented development at Seawoods railway station. Earlier, Blackstone bought a one-million-sq-ft mall for Rs 1,400 crore from L&T Realty in the same project. Blackstone recently inaugurated the ...

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