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Blackstone Real Estate to buy stake in Synergy Property

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April 28, 2008

NEW YORK—Blackstone Real Estate Partners said Monday it will purchase a minority interest in project and construction management company Synergy Property Development Services Private Ltd. for about $18 million.

India-based Synergy has more than 5,000 workers and manages more than 100 million square feet including office, retail and residential space as well as hotels and hospitals.

Blackstone Real Estate Partners is a unit of private equity firm Blackstone Group LP.

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