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More Blackstone joint ventures to hit real estate investment trust market

After the public issue of the real estate investment trust (Reit) from Embassy Office Parks, a joint venture (JVs) between Blackstone and Embassy, other Blackstone JVs have started or would start the work on their Reits soon, sources said. The rental arm of Mumbai-based K Raheja Corp, where Blackstone holds 15 per cent stake, has begun work on the Reit and appointed Morgan Stanley the banker, say sources. The Raheja company is expected to file papers for the Reit in the next six months, sources said. It has an office portfolio of a little over 20 mn sq ft. Recently, it emerged the …

Source: Business Standard