In an unusual directive, SEBI asked Embassy Office Parks Management Services, the manager of Embassy REIT, to suspend the CEO Aravind Maiya through an interim order. The regulator also told the Embassy to immediately appoint an interim CEO. The directive came in the wake of concerns about Maiya’s professional background following an investigation by the … Read more
Seeking to widen the tax base, the government on Wednesday proposed to tax income distributed by business trusts like REITs and InVITs in the form of debt repayments at the hands of unitholders. “It is proposed to tax distributed income by business trusts in the hands of a unit holder (other than dividend, interest or … Read more
REITs raised merely $750M of capital in October, a decrease of 99.99% from $6.84B in the year-ago period, according to a report by the National Association of Real Estate Investment Trusts. Only 1 capital offering instrument, of secondary debt, was offered during the month, compared to 16 instruments a year ago. Realty Income (O) priced … Read more
Blackstone will sell a stake worth up to $400 million in Embassy Office Parks REIT, the country’s biggest real estate investment trust, via stock exchange block deals, three sources familiar with the matter told Reuters. Abu Dhabi’s sovereign wealth fund, one of the world’s largest, is likely to pick up at least half of the … Read more