This will be the third such REIT issue after Embassy Office Parks and Mindspace Business Parks. Both these REITS were co-sponsored by global private equity fund manager Blackstone
Brookfield will reportedly acquire some assets of RMZ in Bengaluru, Chennai, Mumbai and other cities, added sources
According to real estate experts, the price quoted by Brookfield is fair value given the current market conditions. Brookfield declined to comment on the matter.
Brookfield is steadily building a credit portfolio in real estate. It has built a loan book of $1 billion in the past couple of years
Brookfield owns over 25 million sq ft of commercial property in Mumbai and other cities. It also bought Hotel Leela's assets last year for Rs 3,950 crore
Brookfield owns 22 million square feet of office properties in India
Brookfield is one of the most active players in the green debt markets in North America
Brookfield was re-evaluating its investment plans in the Indian batteries market due to "technological uncertainties".
Bankers have approached the private equity firm, others to take over seven investments of the fund
In April, the board of debt-ridden Leela had floated an ordinary resolution for sale of its assets
Reliance Home Finance is also looking to wind down its book and focus on the retail segment, which is valued at about Rs 4,000 crore
Jio posts 46% rise in profit to Rs 891 cr in Q1
This is the second investment this year that Brookfield is making in a venture controlled by Reliance chairman Mukesh Ambani.
If it buys out Jio's towers, this will be its third biggest India deal this year
EWPL, earlier known as Reliance Gas Transportation Infrastructure Ltd, is a unit of Reliance Utilities Private Limited