Blackstone sells stake Mindspace REIT to ADIA
Blackstone-entity BREP Asia SG Pearl Holding NQ Pte Ltd has sold its entire 9.16 percent stake in Mindspace Business Parks REIT for $235 million to Abu Dhabi Investment Authority (ADIA), according to media outlets. The deal marks the debut investment for ADIA in the domestic REIT space.
The REIT owns quality office portfolios located in four key office markets of India, specifically Mumbai Region, Pune, Hyderabad, and Chennai. It has a total leasable area of 31.3 million square feet.