Bengaluru-based real estate player Prestige Estates has completed phase I of its Rs 9,160-crore deal with US equity major Blackstone Group at approximately Rs 7,467 crore. The Prestige-Blackstone deal is one of the largest real estate deals in the country comprising the sale of 21 million square feet of assets by the Prestige Group to Blackstone. These include six completed office assets, four under construction offices, and 9 retail malls. Phase 1 of the transaction includes sale of 12 assets comprising completed retail, office and hotel assets. Phase 2 of the transaction is expected to get completed by the end of next quarter. “We believe that this transaction will further strengthen our foundation and help us in gearing up for the next level of growth. This transaction will also aid us in building long-term strategic partnership with Blackstone Group and leverage the respective strengths of both to create value for the stakeholders,” said Irfan Razack, Chairman, Prestige Group.