Brookfield India REIT Acquires 50% Stake in Parthos Properties for ₹1700 Cr
Brookfield India Real Estate Trust REIT (Brookfield India REIT) has approved the acquisition of a 50% effective stake in Parthos Properties Private Limited (Target SPV) for an enterprise value of ₹17,000 million (₹1700 crore) on a 100% basis. The Target SPV owns three floors in Godrej BKC, Mumbai. The transaction also includes the subscription of non-convertible debentures and acquisition of a holding company. This acquisition is subject to unitholder and other applicable approvals. The valuation is at a discount to independent valuations. Brookfield India REIT will fund its portion through equity shares and/or compulsorily convertible debentures in the Target Holdco, with the remaining 50% stake in Target Holdco to be acquired by NCW's Prime Offices Fund.
Key Highlights
- Brookfield India REIT to acquire 50% stake in Parthos Properties.
- Enterprise value for the acquisition is ₹17,000 million (100% basis).
- Target SPV owns prime commercial space in Godrej BKC, Mumbai.
- Acquisition subject to unitholder and regulatory approvals.
- Transaction involves acquisition of SPV, NCD subscription, and holding company stake.
Price Impact
More from BIRET