INSUBCONTINENT EXCLUSIVE:
Brookfield Asset Management: Some clients in RMZ's parks include Accenture, Google and HSBC.Brookfield Asset Management will buy an Indian
developer's commercial properties for $2 billion, the biggest real estate deal in the South Asian nation
The Canadian asset manager is acquiring 125 lakh square feet of rent-yielding offices and co-working spaces from RMZ Corporation, the
privately held developer said in a statement on Monday
The Indian firm said it will have zero debt after the transaction and will use the money to expand its portfolio.Large foreign investors are
buying into the Indian office market in recent years
Since 2011, the segment has garnered $15.4 billion of equity investments, according to property research firm Knight Frank
Blackstone last week signed a non-binding agreement to buy some assets, a deal Bloomberg News previously reported could be worth $2
billion.The transaction "accentuates the unabating strength and resilience of the commercial office business," Arshdeep Singh Sethi, RMZ's
managing director, said in the statement.The firm plans to expand its real asset portfolio to 850 lakh square feet over the next six years
Some of the clients in RMZ's technology and business parks include Accenture, Google and HSBC
It is selling properties in the southern Indian cities of Bengaluru and Chennai.A representative for Brookfield confirmed the contents of
The alternative asset manager, which says it owns and operates 220 lakh square feet of office properties in India, has picked banks for an
initial public offering of its India real estate investment trust that could raise at least $500 million, Bloomberg reported in July.(Except
for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
