The non-public fairness agency has been interviewing advisers for the Mumbai itemizing of an actual property funding belief, based on the individuals, who requested to not be recognized as a result of the data is non-public. Blackstone’s Indian retail portfolio, which is held via its Nexus Malls unit, may very well be valued at about $2.5 billion, the individuals stated. The REIT may very well be listed as quickly as 2023, they stated.
Preparations are at an early stage, and particulars of the itemizing may change, the individuals stated. A consultant for Blackstone declined to remark.
Nexus Malls operates 17 purchasing facilities throughout 13 Indian cities and has about 10 million sq. toes of retail house, its
web site reveals. The group purchased its first mall in Gujarat in 2015. The corporate
acquired seven malls from
. as a part of a deal agreed in 2020.
Blackstone is the most important business actual property proprietor in India. It’s a backer of Embassy Workplace Parks REIT, the primary property belief to conduct an IPO in India. The car
raised 47.5 billion rupees in 2019.