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Brookfield India REIT to acquire Noida office park for ₹3,970 crore

1 min read Madhurima Nandy 17 Dec 2021, 09:52 PM IST

The acquisition will be financed through a combination of preferential issue of ₹950 crore at a price of ₹294.25 per unit, and a property level debt issue of ₹2910 crore at 6.78% per annum

Brookfield has nearly 40 million sq. ft of operating assets in India.

BENGALURU : Brookfield India Real Estate Trust (Brookfield India REIT) has agreed to acquire 100% stake in Seaview Developers Pvt. Ltd (SDPL), which owns Candor TechSpace N2, an office park in Noida, for ₹3,970 crore, it said on Friday.

It said the acquisition will be financed through a combination of preferential issue of ₹950 crore at a price of ₹294.25 per unit and a property level debt issue of ₹2,910 crore at 6.78% per annum. The preferential issue amounting to ₹495 crore will be allotted to third-party investors and ₹455 crore will be allotted to Brookfield Group.