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CAM, SAM, Simpson, Latham lead on Blackstone part-selling of Embassy REIT stake

Four Law Firms on the Blackstone's sale of Embassy Office Parks REIT units worth $257 million

Bar & Bench

Blackstone, the world’s largest alternative assets manager, aims to sell Embassy Office Parks REIT units worth $257 million through a block trade.

The sale represents a 7% stake of the real estate investment trust (REIT). At present, Blackstone holds a 55% stake in the REIT, reported Mint.

Cyril Amarchand Mangaldas is acting for Blackstone and the team is led by Partners Yash Ashar, Anand Jayachandran and Kranti Mohan along with Janhavi Manohar and Rohit Tiwari.

Simpson Thacher & Bartlett too is acting for Blackstone and the team is led by Partner Anthony King.

Shardul Amarchand Mangaldas & Co and Latham & Watkins are advising the brokers.

The SAM team is led by Capital Markets Partner Prashant Gupta.

The Latham team is led by Partner Rajiv Gupta.

Last year, The Embassy Office Parks REIT IPO, backed by global private equity firm Blackstone Group and Bengaluru-based developer Embassy Property Developments Pvt Ltd, raised a total of ₹4,750 crore (US$690 million).

This was the first ever Real Estate Investment Trust (REIT) in India – a major milestone in the real estate sector.

Cyril Amarchand Mangaldas acted as the Indian legal counsel to Embassy REIT, the Manager, the Embassy Sponsor, and the Blackstone Sponsor. Clifford Chance acted as the International legal counsel for Blackstone and Embassy Property Developments. Simpson Thacher & Bartlett was the International legal counsel for the Blackstone Sponsor.

S&R Associates acted as domestic legal counsel for the Lead Managers and Latham & Watkins were the International counsel.

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