Deals
Blackstone Plans 7% Yield for India's First REIT IPO
- U.S. firm, local partner Embassy file draft offer document
- Companies mull approaching investors with 14-16% total return
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Blackstone Group LP and its Indian partner set a tentative yield for their initial public offering of the country’s first real estate investment trust, which could raise about 52.5 billion rupees ($723 million), people with knowledge of the matter said.
Blackstone and Embassy Group plan to approach investors with an annual yield of around 6.5 percent to 7 percent, according to the people, who asked not to be identified because the information is private. They are considering marketing the deal with a total return of about 14 percent to 16 percent, which takes into account factors like asset value appreciation and rental increases in addition to yield, the people said.