Hyderabad: Hyderabad-based real estate developer Indis (formerly INCOR Group) has announced the conclusion of a Rs 1,000 crore deal with Brookfield Asset Management. The deal will fuel the developer’s strategy to grow its mid-market segment in southern urban locations.
“This transaction will help us grow our portfolio of operational projects at a faster pace, while creating more value for stakeholders, especially our clients. A portion of the deal will also be used to give an exit to some of the current investors, ”said G Anand Reddy, founder, Indis.
The transaction represents Rs 1 000 crore investment in five residential projects covering an area of approximately 6.5 million square feet in development in South India from Brookfield’s Special Investment Fund (BSI).
The investment is in the form of structured capital with base returns and an upward stock. Brookfield’s BSI fund was established to invest in large – scale, non-controlling, equity and equity-like investments with a sector agnostic strategy. This investment provides Indis with additional liquidity to accelerate the development of projects in a fundamentally strong residential market.
This is the fourth deal with Indis and represents Brookfield’s philosophy of building strong relationships with well-known counterparts. BSI continues to scale its business in India and evaluates various opportunities across sectors, including financial services, industries and real estate, says Dev Santani, Managing Director, Brookfield. Asset management.
Source: Telangana Today