Prestige group has provided to Blackstone, exclusivity in relation to the transactions, it added. Blackstone and Prestige group spokesperson declined to comment. Prestige group will utilise the fund raised through this monetisation to partly retire its debt and future expansion. It has sponsored two REIT (Real Estate Investment Trust) launched and listed so far in India -- Embassy Office Parks REIT and Mindspace Business Park REIT). India's office market has been performing well since last few years despite the overall slowdown in the real estate sector.

Source: Mint October 17, 2020 17:37 UTC