Blackstone sells 77 mn shares of Embassy REIT for Rs 2,650 cr

Embassy Office Parks REIT is the country's first REIT, which was launched last year by realty firm Embassy group and global investment firm Blackstone to raise nearly Rs 5,000 cr

Global fund Blackstone on Tuesday raised around USD 325 million (about Rs 2,650 crore) by selling its shares in Embassy Office Parks REIT to monetise part of its investment, according to sources.

Embassy Office Parks REIT is the country's first Real Estate Investment Trust (REIT), which was launched last year by realty firm Embassy group and global investment firm Blackstone to raise nearly Rs 5,000 crore. The REIT is listed on the stock exchange.

According to the sources, Blackstone raised USD 325 million (Rs 2,650 crore) by selling 7.7 crore shares/units in the REIT to institutional investors through block deals at Rs