Blackstone Real Estate Partners, the real estate arm of Blackstone group, has taken a minority stake in Synergy Property Development Services by investing $18 million (Rs 72 crore).Blackstone recently closed Blackstone Real Estate Partners VI with capital commitments worth $10.9 billion, creating the largest ever real estate opportunity fund.
Synergy specializes in architectural design and fitouts, complete project management and turnkey contracts. The company's forte is in managing the entire process from start to finish and ensuring timely project delivery.
Synergy, which is based out of Bangalore, has delivered real estate worth more than 20 million square feet and currently manages over 100 million square feet across various asset classes including office, retail, residential, hotels and hospitals. The company is also planning to expand into infrastructure projects such as airports.
Read more in The Business Standard article
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