News
TARC sells part of its warehousing asset to Blackstone Inc. (BREP) for Rs. 295 crores


New Delhi| Mumbai: 6 September, 2021: New Delhi based real estate development company TARC Limited on Monday announced the completion of the sale of its warehousing asset in North Delhi to BREP Asia II EIP Holding (NQ) Pte. Limited, an affiliate of funds controlled, managed and/or advised by Blackstone Inc. (BREP) for a total consideration of Rs. 295 crores, 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.
A press release issued by the company says that 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.
The release further adds that TARC’s strategic initiative with this big announcement within a few months of being listed as an independent entity is in sync with the focus on enhancing its development projects and is also negotiating additional similar opportunities with Blackstone Inc. (BREP) & other Global Funds.
-
News1 week ago
Q3 2023 Housing prices up 10% YoY led by positive buying sentiment: CREDAI –Colliers – Liases Foras| Housing Price-Tracker Report Q3 2023
-
News3 days ago
LIXIL celebrates architecture & design industry excellence at World Architecture Festival 2023
-
News3 weeks ago
Fractional Real Estate Can Reshape the Second Home Market in India
-
News3 weeks ago
Aparna Constructions and Estates Launches Aparna Greenscapes in Hyderabad, Plans Rs 1400 Crores Investment
-
News2 weeks ago
Maha Govt’s New Housing Policy to Boost’ Housing For All’, New Investments in State’s RE: Maharashtra Housing Min
-
News3 days ago
Technology Can Speed Construction, Cut Costs, Make Labour More Efficient and Sustainable: Brigade Reap Propagate’23
-
News2 days ago
RBI Keeps Repo Rate Unchanged, Increases Growth Forecast In Its Monetary Policy
-
News4 days ago
London Based YOO Worldwide Partners With Luxury Strategy-To-Sales Firm, SQUAREA, to Introduce Designer Residences to East India