By Ka Kay Lum
The government has proposed to set up the airport REIT with hopes to raise $960 million via a 30 per cent stake sale to private investing firms.
The company has also been selling its housing and commercial assets in Chennai as it looks to exit non-core markets and restructure its business.
The project has a development potential of 20 million sq. ft of warehousing and industrial space.
Prestige had signed a term sheet with GIC in February to sell a 40% stake in a clutch of office projects for about Rs 2,000 crore.
ADNH’s is only seeking to buy the hotel buildings and not Emaar’s schools or clinics.
IREF II, which had invested Rs. 67 crore in Shriram Greenfield in 2014, exited at an IRR of 20 per cent and a multiple of 1.87x.
The investor group is in negotiations about a purchase of the project that includes Dinghao market, one of the major electronics bazaars in northwestern Beijing.
The Grade A office tower, which is located at 125 Old Broad Street, has reportedly been bought from US private equity group Blackstone.
The Kapoor family including brothers Rishi, Randhir and Rajiv, have been in talks with several developers to sell 1.6 acres of the two-acre property in Mumbai.
Singapore sovereign fund GIC, which was bidding along with Mumbai-based K. Raheja Corp, is out of the fray.