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According to sources, Blackstone Group sold its 5.7 crore units worth over Rs 2,000 crore in Embassy Office Parks real estate investment trust (REIT) as a strategy to monetise part of its investment. The first real estate investment trust in the country is Embassy REIT, which is sponsored by realty firms Embassy Group and Blackstone Group. In April 2019, Embassy Office Parks RETI got listed on the stock exchange market after raising about Rs 5,000 crore through a public issue. As per Bombay Stock Exchange (BSE) data, Blackstone has sold about 2.73 crore units at Rs 355 per unit, making nearly Rs 969 crore. Blackstone Group had sold its 5.7 crore units via multiple trading on stock exchanges and raised nearly Rs 2,025 crore, said the sources. All the trades were not counted as bulk deals because some of them were below the threshold limit for such classifications. Sources told the media that a total of 14 entities of Blackstone sold 5.7 crore units for Rs 2,025 crore. On Wednesday, Embassy REIT's price declined by 4.76% to Rs 355.84 per unit on the BSE. Embassy Group has about a 12% stake. It is estimated that after the deal, Blackstone's unitholding will fall by about 6% to 32%. Last year in June 2020, Blackstone Group had raised nearly Rs 2,270 crore by selling its shares in Embassy Office Parks REIT. Blackstone Group has deployed over $12.5 billion in the Indian real estate market. Apart from Embassy Office Parks REIT, Blackstone has sponsored the second REIT of the country, Mindspace Business Parks REIT. This year, the company acquired the office, retail business, hospitality portfolio of Prestige Group, a realty firm. Currently, in India, Blackstone has more than $50 billion of assets under management. Image Source Also read: Tarc sells two assets worth Rs 295 crore to Blackstone Also read: Blackstone to acquire 亚博体育官网首页 Partners for $6 billion