Blackstone plans 7% yield for India’s first REIT IPO

Blackstone Group and its Indian partner, Embassy Group, have set a tentative yield for their initial public offering of the country’s first real estate investment trust, which could raise about 52.5 billion rupees ($723 million), according to Bloomberg, citing people with knowledge of the matter.

Blackstone and Embassy Group plan to approach investors with an annual yield of around 6.5 percent to 7 percent. 

Embassy Office Parks REIT will include properties from the Embassy joint venture as well as from Blackstone’s own portfolio.​