Indiabulls Real Estate Ltd has sold its remaining commercial projects to private equity firm Blackstone Group for Rs 730 crore.

The transaction involved the developer divesting its stake in Mariana Infrastructure Ltd, which owns a commercial project in Gurugram and a land parcel in Mumbai, reported VCCircle.

Shardul Amarchand Mangaldas & Co advised Blackstone and the team was led by Partner Anuj Bhasme, along with Principal Associate Neety Thakkar, Senior Associates Gaurav Dugar, Nishant Sharma, Avichal Mathur, and Associates Nirav Punjani, Rutvi Shrimankar, and Apeksha Narula.

The Real Estate team was led by Partner Ashoo Gupta with Associates Mansi Samdani, Shourya Dasgupta and Aanchal Jogani and Partner Gauri Chabbra advised on the Competition Law aspect.

Managing Partner - Mumbai Region Akshay Chudasama provided key strategic inputs and guidance.

Kirkland & Ellis acted as international legal counsel for Blackstone.

J. Sagar Associates advised Indiabulls and the team was led by Partners Lalit Kumar and Bharat Bhushan Sharma along with Associate Amandeep Singh Virk.