While planned stake selling by Blackstone group is over, per today disclosure their entire stake is pledged, @dd1474 and fellow VPers - how do you see this aspect of promoter group as this doesn’t seem to be case with other two REIT.( Brookfield and Mindspace zero promoter plegde). Timing is also strange as unlock for offices seem to gain traction and with some wait they could have got better pricing but again insider knows better.
Some more details in below article
Blackstone declined to comment on the transaction.
The exit was an attempt to provide liquidity to Blackstone’s limited partners, or investors in its fund, and the PE remains the largest shareholder in Embassy, the person cited above said on condition of anonymity.
Capital Group, Dutch Asset Manager, Nordea Bank, ICICI Prudential Mutual Fund, and HDFC Life were among the buyers.
Invested