Non-banking financial company (NBFC) Altico Capital is looking to deploy $150 million (Rs 990 crore) over 12-18 months in commercial office properties and the infrastructure sector. This is besides the $400 million it is looking to deploy in mid-income and affordable housing segments, said Sanjay Grewal, chief executive officer at Altico Capital. The NBFC is promoted… Read More »
The Trump Organization has signed its first commercial office deal in India with private equity fund and developer IREO in Gurgaon. The American real estate firm founded by Donald Trump, the front runner for the Republican nomination for the President of the United States, will lend its name to a new high-end 600,000-700,000 sq ft… Read More »
The decision of DLF’s promoters to sell their 40% stake in the rental arm business, DLF Cyber City Development (DCCDL), has potential to unlock value for the listed company DLF. But given the past track record, when the sale of the company’s some of the other assets dragged beyond expected time, a critical task will… Read More »
Infrastructure giant Larsen & Toubro (L&T) today said it has sold its entire 89 per cent stake in L&T Infocity Ltd (LTIL) to Hyderabad-based Ace Urban Developers Ltd for Rs 191 crore. L&T Infocity Ltd is an special purpose vehicle (SPV) formed by the infrastructure major in partnership with Andhra Pradesh Infrastructure Investment Corporation (APIIC)… Read More »
Commercial space deals are finally taking off in Kolkata, according to a report. The last six months of the current fiscal have seen the maximum number of deals closing in the city with corporates expanding their office in Kolkata or shifting to a grade A property from their present premises. Major new entrants in the last… Read More »
Milestone Capital Advisors, a real estate private equity investor, has sold a commercial property in Bengaluru’s Electronic City phase I for Rs 150 crore, fetching more than 16% gross internal rate of return. The asset, which achieved rental yields of over 12% for the past five years, has been sold to an ultra high-net-worth individual. Read… Read More »
IDBI Federal Life has purchased office space for Rs 111 crore in Marathon Realty’s commercial project at Lower Parel in Mumbai. It has acquired around 61,720 sq ft office space spread over two floors in the project ‘Marathon Futurex’. “IDBI Federal Life Insurance Company Ltd has bought commercial space worth over Rs 111 crore at Marathon… Read More »
Real estate developer DLF has leased about 350,000 sft in its commercial complex at Gurgaon to Samsung India Electronics. Sources say that Samsung India Electronics has leased the space for its India headquarters. The complex has been built at an estimated cost of over Rs 400 crore. ‘Two Horizon Center’ by DLF comprises of 1.1 million… Read More »
Rajeev Talwar, chief executive officer (CEO), DLF Ltd mentioned that DLF would be ready with a special purpose vehicle (SPV) in the next six months. They have signed non-disclosure agreements with 25 global investors. He expects DLF to be the first one to crack REITs. DLF is gearing up to launch REITs worth Rs. 6,000… Read More »
Godrej Properties in September had sold 4.35 lakh sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai for a good valuation of Rs 1,479 crore. Godrej Properties in September had sold 4.35 lakh sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai for a good valuation of Rs 1,479 crore. The… Read More »
