Blackstone to sell entire stake in REIT for Rs 71 billion

Blackstone has sold its entire 23.5 per cent stake in Embassy Office Parks REIT, India’s first real estate investment trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy Group, for around Rs 71 billion. It sold its stake at around Rs 316 per share through open market transactions, at a discount.