Kotak Realty Fund buys 4.9% stake in Embassy REIT for Rs 1,600 crore

Blackstone Group sold its 4 per cent stake in Embassy REIT to mop up Rs 1,301 crore, data provided by stock exchanges showed.

funds
Premium

The money invested came from Kotak Investment Advisors’ 12th real estate fund, which raised $590 million.

BS Reporter
Kotak Realty Fund has on Tuesday picked up 4.9 per cent stake in Embassy Office Parks real estate investment trust (REIT) for Rs  1,600 crore at Rs 345 apiece.

The money invested came from Kotak Investment Advisors’ 12th real estate fund, which raised $590 million.
 
Meanwhile, Blackstone Group sold its 4 per cent stake in Embassy REIT to mop up Rs 1,301 crore, data provided by stock exchanges showed. Blackstone had planned to sell as much as 8.12 per cent in Embassy REIT.
 
However, block deal data showed it sold less than half of it. A banker handling the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 27 2022 | 11:01 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com