Bain Capital has sold a 5.64 percent stake in Bengaluru, India-based Embassy Office Parks REIT for INR 23.25 billion ($243 million) through open-market transactions, according to ETRealty.
Bain Capital, through its affiliate APAC Company XXIII Ltd., sold approximately 53.5 million units in the REIT, according to National Stock Exchange bulk-deal data. The units were sold for between INR 435.01 and INR 435.05 ($4.54) each.
The buyers were not disclosed in the exchange data.
Embassy Office Parks REIT owns and operates a 52.5 million-square-foot portfolio across Bengaluru, Chennai, Mumbai, Pune and India’s National Capital Region. The portfolio includes 14 commercial office properties and 110 buildings and was 90 pe
