Blackstone divests 50 per cent of its Investment in Synergy Properties

MUMBAI: Funds managed by Blackstone today announced that it will divest 50% of their investment in Synergy Property Development Services through a buyback arrangement.

Synergy was among the early investments of Blackstone’s real estate group in India and Blackstone has been a stakeholder in the firm since 2008. This buyback from Blackstone takes the promoter and employee share in Synergy to a majority.

Synergy has over 25+ offices worldwide that provides project management and engineering consulting capabilities across various asset classes such as IT/SEZ/Business Parks, Hotels, Multi-specialty Hospitals, Premium Residential, Industrial Parks, Data Centres and retail mixed-use developments. Synergy’s specialist capabilities cover Project Management, Architectural Design, Design & Build Solutions and Advisory Services.