India and the US are expected to have smooth trade negotiations after US President Donald Trump and Indian Prime Minister Narendra Modi had a productive meeting during Modi's visit to the White House last month, Stephen A Schwarzman, chairman, chief executive officer, and co-founder of one of the world's largest alternative investment firms, Blackstone Group, said in Mumbai on Wednesday.
Around 15 venture funds from the US and Southeast Asia will be making investments in the Indian real estate sector through the FII route
US-based private equity firm Blackstone and Bengaluru-based real estate developer Sattva Group filed the draft initial public offer (IPO) papers for India's biggest real estate investment trust (Reit) named Knowledge Realty Trust to raise ?6,200 crore. The Reit will be the largest in India in terms of net operating income (NOI) and gross assets value (GAV).
Goldman Sachs, Morgan Stanley and JPMorgan, the three bulge-bracket banking groups of the US, are likely to get active in Indian real estate after a long gap, according to executives with property funds and consultancies.
Blackstone Real Estate Partners, the real estate arm of Blackstone group, has taken a minority stake in Synergy Property Development Services by investing $18 million (Rs 72 crore).
Morgan Stanley has big plans to invest in India's real estate.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
Currently, India has five publicly listed Reits: Brookfield India Real Estate Trust, Embassy Office Parks Reit, Mindspace Business Parks Reit Nexus Select Trust, and Knowledge Realty Trust.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
Reit as an investment vehicle has a huge opportunity as the country has a rent-yielding office inventory of 537 million square feet valued in excess of $70 billion.
PE funds have invested Rs 13,000 cr into the property market in Bengaluru.
The real estate sector is set to enter a progressive phase in 2015.
Despite the recent turmoil in the Indian markets after a scathing report on the Adani group from Hindenburg Research, American private equity major Blackstone is "bullish" on the India growth story and plans to invest more in the country's infrastructure and real estate projects. "We have a long-term view on India, as growth will be higher here. We have invested half of our Asia exposure in India. "Our extraordinary performance in India has made us bullish," said Jonathan Gray, president and chief operating officer of Blackstone.
India's real estate investment trust (Reit) sector is set for robust expansion, with at least one new Reit expected to enter the market each year over the next three-five years. This growth trajectory builds on rising occupancies, surging leasing activity, and increasing investor interest.
Blackstone has bought A Wing and some part of B Wing of the building, which has three wings with a total area of 1.5 million square feet.
Aggressive acquisitions & deep pockets fuel real estate competition; experts suggest future partnership
Global investment firm Blackstone on Wednesday sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore, according to sources. Embassy Office Parks REIT is India's first Real Estate Investment Trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy group. Blackstone sold its stake in the entity at around Rs 316 per share through open market transactions and at this price, the deal is valued at about Rs 7,100 crore, the sources said.
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
Blackstone Group, a global private equity player, is set to increase its focus on India. After setting the ball rolling on its corporate private equity and recently starting off its real estate opportunity focus, the company during the past week has set up Blackstone Altius Advisors, an event-driven strategy focusing on opportunities in the Asia Pacific region. Event-driven strategies are those where PEs fund merger and acquisitions or bankruptcies scenario.
Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
Global private equity major Blackstone today said Akhil Gupta, who founded and led its operations in India for eight years, will step into a non-executive role.
Global investment firm Blackstone-sponsored Nexus Select Trust has filed the draft paper with market regulator Sebi to launch India's first public issue of retail REIT to raise around $500 million (about Rs 4,000 crore), sources said. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering about 10 million square feet of area valued at around $3 billion. As per the sources, Nexus Select Trust has on Thursday filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) and is looking to hit the capital market with India's first retail REIT (Real Estate Investment Trust) public issue in the first half of the 2023 calendar year.
He is the man behind Blackstone's India strategy
GIC entered Indian real estate in 2005, when it did a deal with residential developer XS Real, a Chennai-based developer
Approaches Morgan Stanley, GIC and Blackstone
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
On Thursday, the prime minister is scheduled to hold one-on-one meetings with top five American CEOs. Two of them are Indian Americans -- Shantanu Narayen from Adobe and Vivek Lall from General Atomics. The three others are Cristiano E Amon from Qualcomm, Mark Widmar from First Solar, and Stephen A Schwarzman from Blackstone.
According to experts, banks have found better arbitrage opportunities in dollar terms in mature economies with mortgage and leverage rather than take equity exposure on Indian real estate.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Mergers and acquisitions (M&As) by Indian companies have declined sharply by 80 per cent so far this year, in contrast with the same period last year, as bankers predict lower deal volumes due to falling profit margins of Indian companies and feeble stock markets. The decline in Adani Group shares has also hit buyer sentiment. According to data from Refinitiv, M&As in India stood at $3.3 billion from 253 deals, year-to-date (YTD) - a fall of 80 per cent year-on-year (YoY). Cross-border deals by Indian companies were also down 84 per cent to just $1.5 billion.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
Raghavendra Kamath reports on what ails India's real estate sector.
While office and mall properties enjoyed revival and saw some big PE deals, residential real estate was hit by double whammy - stagnating prices and demonetisation
To invest $1 bn in realty sector, mulls new funds; has done exits worth Rs 8,000 crore, says founder
Most players are looking to invest anywhere between $500 million and $1 billion in new ventures in the next couple of years, said experts on this segment.
Brookfield Asset Management will pay around Rs 29,000 per square foot for the 170,000 square feet of space in Jet Airways' two-floor office in Bandra Kurla Complex.
The rise of the mall in India, at a time when many in the United States are becoming debt-ridden white elephants.
CPPIB is looking to partner with RMZ because the latter is aggressive on both new developments and acquisitions.
Almost all the big mall developers/investors - such as Raheja-owned Inorbit Malls, Xander-APG joint venture Virtuous Retail South Asia (VRSA), property developer Prestige Estates Projects, and Blackstone-owned Nexus Malls - are looking to double their space in a year or two.
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