Last year, Piramal Enterprises had announced a $1 billion distressed asset investment platform in association with Bain Capital Credit.
Hotel deals, including mergers and acquisitions, are likely to pick up further in 2018.
IPOs & Markets
Brigade is in the process of moving all its hotel assets into a separate unit. It is also seeking private equity investment in the new unity.
The first project, which is currently being built over 6 acres of land at Porur, in Chennai, would have 1.1 million sq. ft.
The overall development area of the township is around 24 million sq. ft.
The talks with Brookfield comes in after Rs2,400-crore deal with realty firm RMZ Corp. fell through last month
Last month, the company raised $100 million via a QIP and promoter capital infusion.
The three-year facility has been raised through Accord Builders, an Omkar group firm.
It is also in talks with PE firms to raise another $31m for existing projects
Most of this money will be used to build a 600,000 sq. ft premium office tower at a two-acre plot at Worli in Mumbai.
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