 "blackstone, embassy office parks REIT")
Prestige Estates Projects (PEPL), which is in the last leg of a deal with US-based fund manager Blackstone, is planning to sell its 13-15 per cent stake in mall assets to the American entity when the latter forms its real estate investment trust (REIT) and list it.
As part of the Rs 9,160-crore deal, Prestige will sell 85-87 per cent in its nine operational malls to Blackstone in places such as Bengaluru, Mysuru, Mangaluru, and Hyderabad.
The deal also involves selling operational and under-construction office properties to the US-based fund manager.
Analysts expect Blackstone to go for an REIT listing in six to
