Accommodation Times

Blackstone purchases two commercial parks in India

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Blackstone the US based private equity giant purchased two commercial parks in India, the 1.3-million sq ft Galaxy IT Park in Noida and the 1.5-million sq ft BlueRidge SEZ in Pune, for Rs 900 crore from the fund manager IDFC Alternativ­es. IDFC Alternativ­es said it had made returns of 22 per cent through the deal. Through the past couple of years, Blackstone has invested about $1 billion (Rs 6,000 crore) in acquiring office projects.

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