Blackstone exits Mindspace Business Parks REIT; sells stake for Rs 1,740 cr

The REIT owns quality office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad, and Chennai

Global investment firm Blackstone has sold its entire 9.16 per cent stake in Mindspace Business Parks REIT for Rs 1,740 crore through an open market transaction.

The units were purchased by Platinum Illumination Trust in a bulk deal on stock exchanges.

As per BSE's bulk deal data, Platinum Illumination A 2018 Trust purchased over 5.43 crore units at an average price of Rs 320, valuing the deal at Rs 1,740 crore.

Blackstone-entity BREP Asia SG Pearl Holding NQ Pte Ltd sold nearly 5.43 crore units of Mindspace Business Parks REIT worth Rs 1,737.32 crore.

On BSE, Mindspace Business Parks REIT (real estate investment trusts)