a much longer term bet on indian real estate its a big endorsement of the india story said anckur srivasttava chairman of genreal property advisers while blackstone had set up a real estatespecific division in india in 2007 it made its first investment in an office building in 2011 it remained on the sidelines through the boom in indianreal estate when private equity funds were chasing all kinds of deals in the real estate market even after that it chose to play safe by investing in income producing assets however before investing in office buildings its first investment in the real estate space was in 2008 when it had acquired bengalurubased synergy property development services which specialises in project management architectural design and fitouts for buildings morgan stanley had invested around rs 300 crore in alpha g corp in 2006 at the peak of the indian real estate market cc alpha group which is a private equity firm owned by indiaborn london businessman sudhir choudhrie had invested before that when the company was incorporated by a management team backed by ghanshyam sheth of g corp blackstone is also waiting for further clarity on real estate investment trust reit regulations post which it plans to list its rent producing portfolio as an reit to enhance its portfolio further sources say blackstone is in talks with indias largest real estate company dlf to buy a significant stake in cyber city office portfolio