Blackstone looks to exit through multiple Reits

The PE major and its joint venture partners are planning Reits for office assets

Private equity giant Blackstone would look to exit its investments in office properties with multiple real estate investment trusts or Reits including the ones floated by itself, said an executive who works closely with the US-based investor.

Blackstone is the biggest owner of office properties with properties of over 70 million sq ft. It has invested over $3 billion in office properties and malls since 2006. It has invested similar amount in private equity also in the country.

But globally, a third of its assets are in real estate. It manages assets worth $367 billion of which $102 billion in real estate.

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