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Blackstone Group has acquired an office building in Mumbai’s Bandra Kurla Complex (BKC) for INR 2,500 crore ($360 million), reported media outlets.
It’s considered one of the largest commercial real estate deals thus far this year in the country.
The seller was Radius Developers.
The space forms part of the high-profile One BKC project in Mumbai’s financial district. It has three wings. Blackstone is acquiring A wing’s 650,000 square feet of office space and acquiring 50,000 square feet in the B wing. It is fully leased, and tenants include Bank of America, Facebook, Merrill Lynch, Cisco and Amazon.
Blackstone has emerged as an aggressive institutional investor in India’s real estate sector. It has committed $5.3 billion across the key property markets of Mumbai, Noida, Pune, Bengaluru, Chennai and Hyderabad, reported Economic Times.
Earlier this month, Blackstone and India partner Embassy Group entered into an agreement to buy I
