Brookfield India REIT Completes Acquisition of Godrej BKC Asset
Brookfield India Real Estate Trust REIT (Brookfield India REIT) and NCW's Prime Offices Fund (NCW), through their joint venture company Holdco, have completed the acquisition of 100% of the share capital of Parthos Properties Private Limited. Parthos owns and manages three floors in the Godrej BKC building, located in Mumbai's Bandra Kurla Complex. The acquisition involved Holdco acquiring Parthos, and subsequently, Brookfield India REIT and NCW subscribing to equity shares and debentures of Holdco, establishing a 50:50 ownership. Proceeds from non-convertible debentures subscribed by Brookfield India REIT and NCW in Parthos were used to settle existing debt obligations of Parthos.
Key Highlights
- Brookfield India REIT and NCW acquired Parthos Properties Private Limited.
- The acquired entity owns three floors in the Godrej BKC asset.
- A 50:50 joint venture structure was established for the acquisition.
- Acquisition involved equity and debenture subscriptions in Holdco.
- Funds were used to clear Parthos' existing debt.
Price Impact
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