Blackstone’s investment in the Indian realty sector is about to cross $6 billion mark this year

New York-based real estate major Blackstone Group Lp’s property investments are reportedly about to cross $6 billion this year.

The development comes in when most of the private equity firms have started to diversify funds into the logistics sector.

Last week, partner of Blackstone, Salarpuria Sattva bought the 100-acre Global Village Park in Bengaluru reportedly worth Rs 2,800 crore, about one-third of the investment in the project is of Blackstone Group.

Earlier, Blackstone in a statement said that it is committed to invest around $5.4 billion on real estate sector in India. Out of the total, $4 billion is to be invested in office assets.

The company has bought ‘one BKC’ office building in Mumbai worth Rs 2,500 crore. The firm is also said to have purchased a couple of other properties such as Mumbai’s Bandra Kurla Complex for Rs 1,900 crore.

With such transactions, the company is expected to cross the mark of $6 billion this year. This year has proved to be a significant year for Blackstone Group.

The company has successfully fixed deals this year including First Real Estate Investment Trust (REIT) and is now planning its second (REIT) with its minority developer partner K Raheja Corp.

After investing in the shopping, residential and office spaces in the country, Blackstone is now planning to invest in logistics and warehousing opportunities as per the sources.

Other than Blackstone, Canada based Brookfield Asset Management Inc., and Singapore government’s GIC Pte Ltd are investing significantly in the real estate sector in India.

Such investments are a sign of relief for the stressed Indian real estate sector.

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