Latest news with #KnowledgeRealtyTrust
Hindustan Times
2 hours ago
- Business
- Hindustan Times
Sattva Group, Blackstone sponsored REIT raises ₹1,400 cr in pre-IPO round
New Delhi, Jun 18 (PTI) Knowledge Realty Trust, sponsored by real estate company Sattva Group and Blackstone, has raised ₹1,400 crore from investors ahead of its maiden REIT public issue. In early March, Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch an Initial Public Offering (IPO) for raising ₹6,200 crore and list the REIT on stock exchanges. This is part of its strategy to monetise its 30 prime office assets across major cities. According to sources, the KRT has raised ₹1,400 crore in a pre-IPO round from family offices and high net worth individuals. KRT will be the largest REIT in India in terms of Net Operating Income (NOI) and Gross Asset Value, which is estimated at around ₹60,000 crore. At present, there are four listed REITs in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio of retail real estate spaces. This will be the fifth public listing of Blackstone India Real Estate business, including three listed REITs and one of Ventive Hospitality. KRT's total portfolio is 48 million sq ft (37 million square feet completed) across 30 Grade A office assets across six major cities, making it India's most geographically diverse Office REIT. Of the total portfolio, 90 per cent is leased with marquee tenants - 76 per cent with MNCs and 45 per cent with GCCs (Global Capability Centres). Sattva Developers has so far constructed 74 million square feet across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data centre sectors. An additional 75 million square feet is in planning and implementation. Blackstone, one of the leading global investment firms, has a huge exposure in the Indian real estate market. The two sponsors have decided to adopt brand brand-neutral strategy to grow the KRT portfolio inorganically through third-party acquisitions. The existing four REITs have a combined portfolio of over 126 million square feet of Grade A office and retail space across the country. Since their inception, these REITs have collectively distributed over ₹21,000 crore to unitholders. According to Vestian's latest report, nearly 60 per cent of pan-India office stock is REIT-worthy across the top seven cities.
Mint
6 hours ago
- Business
- Mint
Sattva Group, Blackstone-backed Knowledge Realty Trust REIT raises ₹1,400 cr in pre-IPO round
New Delhi, Jun 18 (PTI) Knowledge Realty Trust, sponsored by real estate company Sattva Group and Blackstone, has raised ₹ 1,400 crore from investors ahead of its maiden REIT public issue. In early March, Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch an Initial Public Offering (IPO) for raising ₹ 6,200 crore and list the REIT on stock exchanges. This is part of its strategy to monetise its 30 prime office assets across major cities. According to sources, the KRT has raised ₹ 1,400 crore in a pre-IPO round from family offices and high net worth individuals. KRT will be the largest REIT in India in terms of Net Operating Income (NOI) and Gross Asset Value, which is estimated at around ₹ 60,000 crore. At present, there are four listed REITs in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio of retail real estate spaces. This will be the fifth public listing of Blackstone India Real Estate business, including three listed REITs and one of Ventive Hospitality. KRT's total portfolio is 48 million sq ft (37 million square feet completed) across 30 Grade A office assets across six major cities, making it India's most geographically diverse Office REIT. Of the total portfolio, 90 per cent is leased with marquee tenants - 76 per cent with MNCs and 45 per cent with GCCs (Global Capability Centres). Sattva Developers has so far constructed 74 million square feet across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data centre sectors. An additional 75 million square feet is in planning and implementation. Blackstone, one of the leading global investment firms, has a huge exposure in the Indian real estate market. The two sponsors have decided to adopt brand brand-neutral strategy to grow the KRT portfolio inorganically through third-party acquisitions. The existing four REITs have a combined portfolio of over 126 million square feet of Grade A office and retail space across the country. Since their inception, these REITs have collectively distributed over ₹ 21,000 crore to unitholders. According to Vestian's latest report, nearly 60 per cent of pan-India office stock is REIT-worthy across the top seven cities.
Mint
9 hours ago
- Business
- Mint
Sattva Group, Blackstone-backed Knowledge Realty Trust to launch India's largest REIT, raises ₹1,400 cr in pre-IPO
New Delhi, Jun 18 (PTI) Knowledge Realty Trust, sponsored by real estate company Sattva Group and Blackstone, has raised ₹ 1,400 crore from investors ahead of its maiden REIT public issue. In early March, Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch an Initial Public Offering (IPO) for raising ₹ 6,200 crore and list the REIT on stock exchanges. This is part of its strategy to monetise its 30 prime office assets across major cities. According to sources, the KRT has raised ₹ 1,400 crore in a pre-IPO round from family offices and high net worth individuals. KRT will be the largest REIT in India in terms of Net Operating Income (NOI) and Gross Asset Value, which is estimated at around ₹ 60,000 crore. At present, there are four listed REITs in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio of retail real estate spaces. This will be the fifth public listing of Blackstone India Real Estate business, including three listed REITs and one of Ventive Hospitality. KRT's total portfolio is 48 million sq ft (37 million square feet completed) across 30 Grade A office assets across six major cities, making it India's most geographically diverse Office REIT. Of the total portfolio, 90 per cent is leased with marquee tenants - 76 per cent with MNCs and 45 per cent with GCCs (Global Capability Centres). Sattva Developers has so far constructed 74 million square feet across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data centre sectors. An additional 75 million square feet is in planning and implementation. Blackstone, one of the leading global investment firms, has a huge exposure in the Indian real estate market. The two sponsors have decided to adopt brand brand-neutral strategy to grow the KRT portfolio inorganically through third-party acquisitions. The existing four REITs have a combined portfolio of over 126 million square feet of Grade A office and retail space across the country. Since their inception, these REITs have collectively distributed over ₹ 21,000 crore to unitholders. According to Vestian's latest report, nearly 60 per cent of pan-India office stock is REIT-worthy across the top seven cities. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
9 hours ago
- Business
- Business Standard
Sattva, Blackstone-backed REIT raises ₹1,400 crore in pre-IPO funding
Knowledge Realty Trust, sponsored by real estate company Sattva Group and Blackstone, has raised Rs 1,400 crore from investors ahead of its maiden REIT public issue. In early March, Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch an Initial Public Offering (IPO) for raising Rs 6,200 crore and list the REIT on stock exchanges. This is part of its strategy to monetise its 30 prime office assets across major cities. According to sources, the KRT has raised Rs 1,400 crore in a pre-IPO round from family offices and high net worth individuals. KRT will be the largest REIT in India in terms of Net Operating Income (NOI) and Gross Asset Value, which is estimated at around Rs 60,000 crore. At present, there are four listed REITs in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio of retail real estate spaces. This will be the fifth public listing of Blackstone India Real Estate business, including three listed REITs and one of Ventive Hospitality. KRT's total portfolio is 48 million sq ft (37 million square feet completed) across 30 Grade A office assets across six major cities, making it India's most geographically diverse Office REIT. Of the total portfolio, 90 per cent is leased with marquee tenants - 76 per cent with MNCs and 45 per cent with GCCs (Global Capability Centres). Sattva Developers has so far constructed 74 million square feet across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data centre sectors. An additional 75 million square feet is in planning and implementation. Blackstone, one of the leading global investment firms, has a huge exposure in the Indian real estate market. The two sponsors have decided to adopt brand brand-neutral strategy to grow the KRT portfolio inorganically through third-party acquisitions. The existing four REITs have a combined portfolio of over 126 million square feet of Grade A office and retail space across the country. Since their inception, these REITs have collectively distributed over Rs 21,000 crore to unitholders. According to Vestian's latest report, nearly 60 per cent of pan-India office stock is REIT-worthy across the top seven cities.
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Business Standard
a day ago
- Business
- Business Standard
Blackstone-Sattva REIT to raise ₹4,800 crore via IPO in August 2025
Knowledge Realty Trust, a real estate investment trust (REIT) backed by US-based private equity firm Blackstone and Bengaluru-based real estate developer Sattva Group, may raise ₹4,800 crore through an initial public offering (IPO) in August, according to people familiar with the matter. The REIT had filed draft papers to raise a total of ₹6,200 crore in March, out of which it raised ₹1,400 crore in a pre-IPO funding round. Post listing, Knowledge Realty Trust will be India's fifth listed REIT. It will have a total leasable area of 48 million square feet (msf), the second largest in Asia. The REIT will be the largest in India in terms of net operating income (NOI) and gross asset value (GAV). Blackstone declined to comment on queries from Business Standard. Ninety-five per cent of the REIT's assets are concentrated in the top three Indian office markets — Mumbai, Bengaluru and Hyderabad. Some of the properties included in the REIT's portfolio are One BKC, One International Centre and One World Centre in Mumbai. Ninety per cent of the REIT's portfolio is leased, with 76 per cent of the tenants being multinational companies. Earlier, in its draft papers, the REIT stated that ₹5,800 crore of the issue will be used for partial or full repayment or prepayment of certain financial indebtedness of the asset special purpose vehicles and the investment entities. As of 31 March 2025, the value of Blackstone's global real estate portfolio stood at around USD 596 billion. Earlier, Blackstone exited Embassy Office Parks REIT in December 2023, selling its entire stake of 23.5 per cent for ₹7,100 crore. In 2022, Blackstone also exited Mindspace Business Parks REIT by selling its entire 9.16 per cent stake for ₹1,740 crore. Last year, Blackstone sold its partial stake of 20.8 per cent in Nexus Select Trust for more than ₹4,300 crore. Meanwhile, Sattva Group has developed over 80 msf of area so far and has 65 msf of development in the pipeline. The realtor operates in commercial as well as residential real estate across Bengaluru, Goa, Pune, Hyderabad and Coimbatore.
