Brookfield India REIT to acquire Seaview Developers for Rs 3,970 crore

The acquisition and the funding are subject to unitholder and regulatory approvals

Brookfield India Real Estate Trust will acquire 100 per cent stake in Seaview Developers Private Limited, which owns Candor TechSpace N2, for a total acquisition price of Rs 3,970 crore, the company said in a filing on BSE late on Friday.

The acquisition will be financed through a combination of preferential issue of Rs 950 crore at a price of Rs 294.25 per unit, and a property level debt issue of Rs 2910 crore at 6.78 per cent per annum. The preferential issue of Rs 495 crore will be allotted to third party investors and Rs 455 crore will be