For consideration of Rs 295 crore
TARC today announced the successful completion of the sale of its warehousing asset in North Delhi to BREP Asia II EIP Holding (NQ), an affiliate of funds controlled, managed and/or advised by Blackstone lnc, (BREP) for a total consideration of Rs. 295 crore, in a move which is aligned to TARC'S strategy of maintaining focus on core development projects to unlock much higher value through its strategic and key land parcels in New Delhi.The company plans to use a part of the proceeds to fast track the residential projects, consolidating its strategy to develop higher yielding, future ready projects.
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