Blackstone transaction, improving outlook to support Embassy Office Parks

The world's largest alternative asset manager, through its investment companies, sold a 23.59 per cent stake in the company, leaving the Embassy group as the sole sponsor of the REIT

The stock of India’s largest listed real estate investment trust (REIT) Embassy Office Parks REIT (Embassy) is up 15 per cent from its lows this month. While the government’s denotification of the special economic zone (SEZ) earlier this month was a key trigger, the recent stake sale by Blackstone Group (even as the stock has seen a bit of a correction given the large transaction size) is also considered as a positive as it removes the stake sale overhang. 

The world’s largest alternative asset manager through its investment companies sold a 23.59 per cent stake in the company, leaving the