Blackstone Group LP is in talks to acquire Adani Realty’s commercial office project at Mumbai’s Bandra Kurla Complex (BKC) for around ₹1,900 crore.
The private equity firm stepped in after Shapoorji Pallonji Investment Advisors Pvt. Ltd backed out from buying the 10-storey building in Mumbai’s latest financial district. The investment arm of the Shapoorji Pallonji Group was the frontrunner for the deal and even completed a due diligence of the property. The last couple of years have seen Blackstone lap up some of the marque commercial properties in India.