Blackstone Plans India’s First REIT

A venture including private-equity giant  Blackstone Group LP is poised to launch India’s first real-estate investment trust in an initial public offering that could raise more than $600 million and mark a milestone in the development of a modern commercial real-estate industry in India.

For Blackstone, the deal would do a lot more than simply make history. It would also enable the world’s largest private real-estate owner to start cashing in on a contrarian bet that it made on India after some foreign investors had exited from the country.

Read more: WSJ