CCI Greenlights Blackstone-Sattva REIT Mega-Deal

The Competition Commission of India (CCI) has approved the proposed acquisition by Knowledge Realty Trust (KRT)—an upcoming real estate investment trust (REIT)—of several entities linked to global private equity firm Blackstone and Bengaluru-based developer Sattva Group.

Jointly sponsored by Blackstone and Sattva, KRT is positioned to become a major player in India’s commercial real estate market. The acquisition grants KRT direct and indirect control over a portfolio of entities owned individually or jointly by the two sponsors. Its REIT manager, Knowledge Realty Office Management Services (formerly Trinity Office Management Services), is registered with SEBI and specializes in managing income-generating commercial real estate assets.

The CCI’s approval is a significant milestone, allowing KRT to consolidate a high-quality portfolio of office properties under one umbrella. It also highlights the growing appeal of India’s commercial real estate sector to institutional investors, especially through the REIT model, which enables both retail and institutional participation in stable, income-yielding assets.

With this regulatory clearance, KRT is expected to proceed with its IPO plans, marking a strategic move to expand its portfolio of rent-generating properties and meet investor demand for reliable, long-term real estate yields.

News by Rahul Yelligetti.