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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Blackstone Inc | NYSE:BX | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -4.12 | -3.42% | 116.50 | 120.11 | 116.48 | 119.12 | 4,329,191 | 00:17:37 |
From May 2019 to May 2024
By Kenan Machado
MUMBAI--U.S.-based private equity firm Blackstone Group L.P. (BX) has bought two office properties in India from a unit of Indian financier IDFC Ltd. (532659.BY), the Indian company said Tuesday.
IDFC said Blackstone has bought a property in Noida, which is a satellite city on the outskirts of New Delhi, and another in the western Indian city of Pune, from its private equity arm IDFC Alternatives Ltd.
It didn't disclose the value of the deal. However, a person familiar with it said Blackstone paid about $178 million for the properties.
Real estate demand in India is expected to pick-up on the back of a recovery in the economy as the country's new government, which took charge in May, speeds up changes in economic policies.
Blackstone has been increasing its real estate investments in India in recent years. In May, it partnered with a local developer to buy Express Towers, an iconic business property in Mumbai. In December 2011, it bought an economic zone in Pune earmarked for promoting technology businesses.
-Write to Kenan Machado at kenan.machado@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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