RMZ Corp plans REIT by April next year

RMZ Corp, the Bengaluru-based property developer backed by Qatar Investment Authority (QIA), is looking to file a prospectus for a real estate investment trust (Reit) by April next year. The company is looking to list its Reit by the third quarter of 2017, RMZ Corp chairman Raj Menda told Business Standard. “Preparation are at a preliminary stage and we are in the process of appointing bankers,” said Menda. US-based private equity giant Blackstone, with its partners – Bengaluru-based Embassy and Pune-based Panchshil – are also believed to have started preparation for forming a Reit, sources said. Menda said they prefer a private Reit structure, as allowed in the case of the infrastructure investment trust (InvIT).

Read more: Business Standard