Blackstone, an investment group, is leaving Embassy Office Park REIT
One of the biggest investment organizations in the world, Blackstone, is anticipated to fully withdraw from Embassy Office Park REIT after months of rumors. With a value of $833 million, this departure from the REIT is anticipated to happen via one of the biggest block sales in recent memory.
Industry reports claim that Blackstone would be selling its whole 23.6% ownership in the listed business, with a floor price of Rs 310 per share. This floor price is about 8% less than Embassy REIT’s current share price.
On Wednesday, the company’s stock ended 3.4% higher at ~335.54. It was valued at somewhat less than Rs 32,000 crore on the market. Over time, Blackstone has decreased its ownership in Embassy REIT. The investment group sold its $400 million interest to investors, including the Abu Dhabi Investment Authority, in September 2022.
