MUMBAI/BANGALORE (TIP): Embassy Office Parks, a joint venture between private equity firm Blackstone Group and office space developer Embassy Group, is in advanced talks to acquire three large IT parks spread over two million sq ft each in Bangalore, Pune and the National Capital Region (NCR) for Rs 3,000 crore. “The deal will be closed in less than a year,” Michael Holland, CEO of Embassy Office Parks said. . Michael Holland added that the talks were initiated in the second half of last year, the period that he described as “the low point in Indian real estate”.
Blackstone-Embassy JV plans to buy 3 IT parks for Rs 3,000 cr
