By M Sriram
The money will be used to develop affordable residential real estate in India’s top six cities, while a smaller amount will selectively be invested in commercial projects.
The firm said it aims to complete the acquisition in October 2018, following which its UK portfolio will increase to c.2,676 beds spread across 10 student accommodation assets in five cities.
Blackstone started its real estate business in 1991 and has expanded it to $119 billion in assets.
Following the tender offer, CPN will delist GLAND from the Thai bourse.
This marks the SGX-listed firm’s entry into North Asia.
The fund, just like its predecessor, is likely to focus on acquiring completed logistics and industrial assets in China.
The acquisition is part of SPH’s ongoing strategy to diversify its business to new growth areas.
As part of the transaction, Apollo Global has inducted four people from JPMorgan’s India team.
The acquisition marks Ascendas-Singbridge’s foray into the US market.
The Mitsubishi arm will pick up 70% stake in the housing project by investing around Rs 180 crore.