Blackstone sells over 310 mn units in Nexus Select Trust for Rs 4,355 cr

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Blackstone sells over 310 mn units in Nexus Select Trust for Rs 4,355 cr - Business Standard

Quick Summary:

Global investment firm Blackstone on Friday sold 31.55 crore units in its REIT firm 'Nexus Select Trust' for around Rs 4,354.90 crore through a block deal on stock exchanges as part of a strategy to monetise real estate portfolio.

According to exchange data, Blackstone sold 31.55 crore units in Nexus Select Trust at Rs 138 apiece, taking the total transaction value to Rs 4,354.90 crore.

Blackstone currently holds around 43 per cent stake in Nexus Select Trust, which is India's first real estate investment trust (REIT) backed by retail properties.