Blackstone may buy Mumbai's BKC headquarters for approx Rs 14-15 bn

Blackstone has invested over $5 billion across 30 real estate investments, of which $3.7 billion is in office space

US-based PE fund Blackstone is in talks with cash-strapped IL&FS to buy the latter’s head office building in Bandra Kurla Complex in Mumbai, sources said. 

Though the talks are in preliminary stages, the 400,000-sq ft building could fetch anywhere between Rs 14 and 15 billion, given the rates in the area, sources said. 

Capital values are between Rs 35,000 and Rs 40,000 per sq ft in BKC. “The plan to meet their obligations and have an asset light model,” said sources. 

Blackstone refused to comment on the development. 

An IL&FS spokesperson said, "Several potential buyers have expressed interest for the IL&FS Financial Centre, and