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US-based private equity fund manager Blackstone has refinanced lease rental discounting (LRD) loans worth Rs 2,500 crore with State Bank of India (SBI), said a source in the know.
It will be one of the largest such LRD refinancing by a bank in commercial properties in recent years, said sources. “The refinancing was done to avail of better interest rates,” said sources.
The refinancing was carried out for LRDs of properties, including One Indiabulls Centre and Indiabulls Finance Centre, which were bought from Indiabulls Real Estate and also the One BKC property bought by Blackstone last year.
Though the earlier
