Tag: Brookfield Asset Management

CommercialLatest Stories

IL&FS HQ in BKC may see 25% valuation increase

MUMBAI: IL&FS is set to pursue new valuations for its headquarters located in the Bandra Kurla Complex (BKC). A 25% increase in its current valuation is anticipated following approval from the National Company Law Tribunal (NCLT) to consider the recent surge in Mumbai’s real estate market, according to a source familiar with the situation. The tribunal has mandated Brookfield Asset Management, the global institutional investor, to renew the performance guarantee originally submitted during the bidding process for the property in 2022. “The existing valuation of ₹1,722 crore was established in 2024, and new valuations are projected to be between ₹2,000…

CommercialLatest Stories

360 ONE acquires 50% of Bluegrass Business Park for ₹2,400 Cr

Representative image created by AI NEW DELHI: 360 ONE Asset has acquired a 50% interest in Bluegrass Business Park from Brookfield Asset Management’s private real estate fund (Brookfield). The property, a two million sq ft office development located in Kalyani Nagar, Pune, was purchased for an estimated enterprise value of ₹2,400 crore (approximately $280 million). Occupying seven acres, Bluegrass Business Park includes a one million sq ft operational tower leased to Mastercard, alongside an office tower currently under construction that will feature street retail. Brookfield will maintain responsibility for the management, development, and leasing of the property. Shardul Amarchand Mangaldas…

CommercialLatest Stories

Brookfield buys Jet Airways’ Mumbai office via insolvency

Sure! Here’s a revised version of the content: — Representative image created by AI In a significant update regarding Jet Airways’ insolvency proceedings, Brookfield Asset Management, a major global investment firm, has acquired an additional office floor within the Godrej BKC commercial tower in Mumbai’s Bandra-Kurla Complex for ₹370.25 crore, according to sources familiar with the matter. The transaction was executed under the Insolvency and Bankruptcy Code (IBC) and supervised by the National Company Law Tribunal (NCLT). Initially, Bank of Baroda was the highest bidder, but Brookfield utilized its right of first refusal to match the bid and secure the…