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☆ Blackstone converts Indian property to safe haven
  + stars: | 2022-10-06 | by ( Una Galani | ) www.reuters.com   time to read: +3 min
MUMBAI, Oct 6 (Reuters Breakingviews) - A global downturn could boost demand for Indian real estate. The investor-cum-landlord led by Steve Schwarzman has played a big role in developing a local market for real estate investment trusts. Now it’s preparing to float a collection of glitzy shopping malls in what would be only the country’s fourth publicly traded REIT. Indian real estate trusts outperform U.S. peersFollow @ugalani on Twitter(The author is a Reuters Breakingviews columnist. On Sept. 27, Blackstone raised $325 million from selling an 8.1% stake in Embassy Office Parks REIT, per IFR.
☆ Exclusive: Blackstone to sell $400 mln stake in Indian REIT Embassy, ADIA eyes investment
  + stars: | 2022-09-23 | by ( M. Sriram Aditya Kalra Aditi Shah | M. Sriram | Aditya Kalra | ) www.reuters.com   time to read: +4 min
It is the largest office REIT in Asia by area. Shares in the Embassy REIT closed at 354.42 Indian rupees on Friday in Mumbai, giving it a market capitalisation of $4.15 billion. Blackstone currently has a 32% stake in the Embassy REIT and at the current market value the proposed sale by Blackstone would represent 7.2% to 9.6% of its stake, according to Reuters calculations. ADIA INTERESTADIA is likely to pick up about $200 million of Blackstone's stake sale, with talks also ongoing with other possible investors, the first source said. For ADIA, the investment would expand its interest in the Indian office market.
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