Blackstone plans REIT stake sale

Mumbai: Blackstone has proposed selling up to 25.03% of its stake in Knowledge Realty Trust through an offer for sale, with the transaction valued at about ₹11,988 crore ($1.26 billion) at the floor price of ₹108 per unit.

The offer comprises a 16.69% base offer and an additional 8.34% stake in case of oversubscription.

Blackstone and its affiliates currently hold 46.51% in the REIT. A full sale of the proposed stake would significantly reduce the investment giant’s holding in the listed property platform.

Knowledge Realty Trust owns 29 assets across six cities, with a gross asset value of ₹67,400 crore. The REIT was listed in August 2025 and has gained about 10% since its market debut.

The proposed transaction comes as institutional investors increasingly use listed real estate vehicles to unlock capital from large commercial property portfolios, underscoring the growing role of REITs in India’s real estate investment landscape.

Reuters reported that Blackstone “has proposed to sell up to 25.03% of its stake” in Knowledge Realty Trust.

By Sana Khan
Executive Editor,
Realty Quarter
Mumbai