Global funds draw India plans as Blackstone REIT soars 35% since debut

India can raise $25 billion through REITs over the next three years listing around 150 million square feet of rent-yielding office properties, according to Anarock

Blackstone-backed real estate investment trust’s successful India trading debut has left global funds including Japan’s NikkoAM-StraitsTrading Asia wanting a piece of the action.

Eastspring Investments, North Carolina Fund, and Sentry Global are among names looking to invest in the instrument that bets on India’s rent-yielding real estate, said Shobhit Agarwal, managing director at Anarock Capital.

Blackstone Group LP-backed Embassy Office Parks REIT, the first such issuance in India, has soared about 35% since its debut in March, enticing more investors for similar instruments and providing India’s cash-starved property firms a new fundraising tool. The performance has beaten indexes that track REITs in