Mumbai: Blackstone, American PE fund is buying an iconic commercial building in south Mumbai together with Pune based developers Panchshil Realty. The renowned Express Towers is a premium commercial property situated at Nariman Point which was earlier owned by the Indian Express Group and ICICI venture.The deal is finally coming to an end after months of negotiations which involved multiple people. The Blackstone and Panchshil Realty are buying the Express Towers with an estimated amount of Rs 900 crore. The formal announcement about the deal will be made in public very soon by the Blackstone group.Express Towers is prominent commercial space in the city comprising 25 floors of various office spaces. The tower was built by Ramnath Goenka with an aim of building the tallest tower in South Asia which the tower did achieved after its construction in 1972. The Express Tower was fully designed by renowned American architect Joseph Allen Stein.Under the deal, the Blackstone-Panchshil Realty will buy 3,84,000 sq ft of the total space excluding the top-floor penthouse owned by the Indian Express chairman & managing director Vivek Goenka.Express Towers includes the 49 % stake owned by the ICICI Venture while the remaining 51% stakes are owned by the Vivek Goenka. The decision of selling the towers is done by the joint venture and it has almost finalized all the provisions and conditions of the deals. The ICICI Venture had bought its 49 per cent stake in the Express Towers in 2008 for about Rs 360 crore.The Blackstone-Panchshil Realty has not revealed any further plans about the use of the towers but this will be the major step for the joint venture in the commercial real estate market.займ на карту без отказов круглосуточновзять кредит онлайн