BENGALURU: Mumbai-based developer Indiabulls Real Estate Ltd (IBREL) and its joint venture partner, Blackstone Group Lp, are acquiring three office assets in Delhi and Gurugram, even as it is in talks to exit the real estate business, said two people familiar with the development, seeking anonymity. Acquisition of two office properties will be completed in the June quarter, while the third one will be closed after that. All assets will be part of the joint venture portfolio. Commitments for these acquisitions, which will bring assets with annuity income under the joint venture, were made earlier, and the partners will go ahead with them, said the first person. The commercial office portfolio is fairly large and once the acquisitions are completed, Blackstone will own a large part of the firm’s projects," said the second person.

Source: Mint April 29, 2019 18:11 UTC