The IDBI building has a built-up area of 3.41 lakh square feet. Private-equity major Blackstone is also steadily increasing its portfolio of commercial projects. In a major real-estate deal, Indiabulls Real Estate (IBREL) has executed a definitive agreement with Blackstone Group to divest 50 per cent stake in its prime commercial properties in Mumbai for ₹4,750 crore. IBREL has executed transaction documents with the entities controlled by Blackstone to divest its entire holding in certain subsidiaries and thereby indirectly divesting 50 per cent stake in Indiabulls Properties and Indiabulls Real Estate Company at an aggregate enterprise value of around ₹9,500 crore, IBREL said in a regulatory filing. The transaction is expected to be completed by March 31. Indiabulls is the owner of two commercial office assets in Mumbai — Indiabulls Finance Centre and One Indiabulls Centre.