Embassy Office Parks to file Reit document this month; could mop up $1 bn

Embassy Office Parks, the joint venture between Bengaluru-based Embassy group and US-based private equity fund manager Blackstone, is looking to file offer document for its real estate investment trust (Reit) in a week or two, said sources in the know. The maiden Reit offering in India could raise as much as $1 billion.

“The bankers are giving the final touches to the offer documents,” said the source. An email sent to the Embassy group did not elicit a response.

A Reit allows investors to take ownership in a yield-generating commercial real estate properties, such as office buildings or shopping malls.