new delhi mar 20 the countrys first real estate investment trust reit launched by blackstone and embassy group has been subscribed 257 times at the end of the threeday bidding process wednesday helping the firm raise rs 4750 crore embassy office park the joint venture of blackstone and realty firm embassy group raised rs 2619 crore from anchor and strategic investors ahead of its initial issue which opened on monday and closed on wednesday according to sources the units offered through reits will be listed on exchanges in the first week of april the success of indias first reit will boost investment in commercial real estate and encourage more property developers to raise funds through this route this will also enable institutional and retail investors to participate in the growth of commercial real estate in the country according to the latest exchange data the issue received bids for 183476000 units against the total issue size of 71256400 units the issue is in the price band of rs 299300 per unit last week ahead of its initial issue embassy office parks had allocated 58105600 units to anchor investors at rs 300 each totalling rs 1743 crore it had also allotted 29208800 units for rs 8763 crore to strategic investors reit is an investment tool that owns and operates rentyielding real estate assets it allows individual investors to make investment in this platform and earn income on the success of the nations first reit property consultant jll india chief executive officer and country head ramesh nair said the reason for the success of the embassy blackstone reit is because a reit offers predictability low volatility and liquidity to the investor the reit also offers the unique twin benefits of fixed income through dividend coupled with equity type of returns through rental growth he added cbre india country head anshuman magazine said the success of reit would help elevate investor sentiments in the countrys real estate market india offers major advantages for reits including availability of a wide variety of quality assets a wide investor base and opportunities for capital appreciation he added the positive response to the reit will help build further confidence among global investors and attract them to consider india along with its global peers such as singapore and hong kong said knight frank india chairman shishir baijal embassy office parks had in september last year filed the draft red herring prospectus drhp with markets regulator sebi to launch reit touted as asias largest in terms of portfolio size of 33 million sq ft embassy office parks a leading player in commercial real estate has put 33 million sq ft of office and hospitality assets under its proposed reit comprising seven business parks and four citycentric buildings spread across mumbai bengaluru pune and noida vhp sum mjh hrs