Tag: leasing and

CommercialLatest Stories

Brookfield India REIT Raises ₹2,600 Crore for Growth

MUMBAI: The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund, is participating in Brookfield India Real Estate Trust’s Qualified Institutional Placement (QIP) aimed at raising ₹2,600 crore, according to sources familiar with the matter. The initial issue, set at ₹2,000 crore, was increased with a 30% greenshoe option due to strong investor interest, and is expected to close this week. “The issue size was raised on Friday following enthusiastic responses from investors. Approximately 90% of the allocation went to long-only investors,…

CommercialLatest Stories

DevX Secures Historic Deal for 27-Storey Ahmedabad Tower

Managed office space provider Dev Accelerator (DevX) has acquired a 27-storey commercial office tower in Ahmedabad, covering 800,000 sq ft, in a deal exceeding Rs 850 crore in total rentals, marking the largest coworking transaction in India. This deal is particularly noteworthy as such a significant agreement is made in Ahmedabad, a deviation from traditional office hubs like Mumbai, Bengaluru, Hyderabad, Delhi-NCR, and Pune. The transaction is structured as a long-term development management (DM) agreement rather than a standard lease. The project is in the construction phase and is expected to be completed within 2.5 to three years. “This reflects…