Blackstone-Sattva Powerhouse Unveils India's Largest Office REIT: A Game-Changer for Investors

Sattva Developers and Blackstone-sponsored Knowledge Realty Trust filed a draft offer document with SEBI to mobilize INR 62 billion via an initial public offering. The trust says it is India's largest office REIT with gross asset value of INR 594.45 billion as of September 2024. Its portfolio covers 30 Grade A office properties in six cities, with an area of 48.1 million square feet. IPO proceeds will be utilized mainly towards debt repayment in asset SPVs and investment entities. This will be Blackstone's fifth public listing in India's real estate market. The REIT units are to be listed on BSE and NSE, and are being managed by some of the top financial institutions through the public issue.

 

Source: Moneycontrol