Nirmal Lifestyle has been in talks with several large developers to monetize its land holdings and reduce debt.
In 2015, Blackstone had acquired the entire 1.1-million sqft building from its previous owners HCC Real Estate Ltd and IL&FS Milestone Realty Advisors
Between April and July, Godrej Properties finalized land parcels—three in the National Capital Region (NCR) and one in Bengaluru.
This is the second land parcel that BPTP has sold as part of its larger land monetisation strategy.
12 PE deals worth around $91.69 million have closed so far this year as against a total of $40.85 million in 17 deals the whole of last year.
Globally, the Mirae group’s assets under management (AUM) stand at $100.5 billion.
The Tata group company has earmarked around Rs3,000 crore as capital expenditure for the next one year, to be financed by internal accruals.
The project would be funded primarily through capital that it received separately from Warburg Pincus and Goldman Sachs in 2015.
The first Asia fund corpus would be around $300 million.
This is India's biggest land deal in the year so far.
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