JLL India facilitates sale of 50 per cent stake in Westend Mall, Pune
Leading international property consultancy JLL India has facilitated the sale of 50% stake in Westend Mall in Aundh, Pune to US-based private equity player Blackstone Group.
Post-acquisition of retail malls in Ahmedabad, Amritsar and Navi Mumbai last year, this is the fourth acquisition by the PE giant. Globally, Blackstone is the largest real estate private equity firm in the world today with $102 billion of assets under management.
Sanjay Bajaj, Managing Director – Pune, JLL India said, “Westend is the largest integrated mixed-use development in the micro-market of Aundh and Baner, which houses some of the top IT companies and an abundant residential catchment in the vicinity. The Westend Mall, a part of the development, is the largest operational retail mall in west Pune, with marquee brands such as H&M, Shoppers Stop, Cinepolis with IMAX, Max, Starbucks, etc. In addition to the mall, the development also houses top-notch IT companies like Convergys, Sungard, OneNetwork, etc.”