News
CBRE concludes IL&FS’ property sale, Brookfield wins bid for Rs 1,080 crores
New Delhi, April 5, 2022: CBRE South Asia Pvt. Ltd., today announced conclusion of one of India’s largest real estate asset resolutions of IL&FS’ headquarters in Mumbai.
The iconic property located in the city’s business district, Bandra-Kurla complex (BKC), will be acquired by Brookfield for rs 1,080 crores. The marquee property, with around 4.5 lakh sq. ft. of leasable area, houses tenants such as IBM and Paypal.
The iconic IL&FS Financial Centre was one of the first grade A buildings in BKC.
The deal was a part of resolutions by a government-appointed board, led by Uday Kotak, filed with National Company Law Tribunal Mumbai (Special) Bench / National Company Law Appellate Tribunal. IL&FS has filed the application of approval from NCLT and is expecting the deal closure post approval in the next couple of quarters.
“The transaction is yet another accolade of CBRE’s exceptional client services that continue to refine and develop in-line with the evolving market dynamics. We congratulate our capital markets team that continues to reinforce the company’s leadership as an integrated capital solutions provider with this exceptional achievement,” said Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE.
“Despite socio-economic uncertainties, CBRE’s capital markets team continues to contribute significantly to deliver industry-leading services to our clients. The divestment of IL&FS’ headquarters in Mumbai will be a marquee transaction within the Indian real estate landscape.”, said Gaurav Kumar & Nikhil Bhatia, Managing Directors for ‘Capital Markets & Land’ for CBRE, India.
-
News4 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News2 weeks ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News4 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News3 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24
-
News3 weeks ago
India to become the fastest-growing silver economy, housing up to 17% of the world’s elderly population by 2050: CBRE Report
-
News4 weeks ago
HRERA Gurugram Rejects Godrej Properties’ Project Extension Application, Account Frozen For Prolonged Non-compliances
-
News2 weeks ago
SKA Forays In Luxury Housing: Launches SKA Destiny One in Greater Noida, To Invest Rs 592 Crores