Blackstone bought a 50% stake in two units at an aggregate enterprise value of about US$1.46 billion ($2 billion) early last year.
The PE firm is expected to add the assets to the portfolio of Embassy Office Parks Real Estate Investment Trust (REIT), its joint venture with Bengaluru-based realty developer Embassy Group, the paper said.
The latest transaction is part of the Indiabulls Group's strategy of exiting real estate completely and focusing on financial services as it seeks to merge with Lakshmi Vilas Bank, ET said, adding the deal is expected to be concluded over the next few weeks.
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- Singapore real estate investment up 26% y-o-y in 2019 to record US$9.6 bil
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