⁍ RMZ Corp has sold 12.5 million square feet of its real estate assets to Brookfield Asset Management Inc.
⁍ The deal includes divestment of RMZ’s co-working business CoWrks.
⁍ The commercial real estate asset portfolio of RMZ is valued at about $10 billion, according to The Hindu newspaper of India.
– Privately held Indian developer RMZ Corp has sold 12.5 million square feet of its real estate assets to Brookfield Asset Management for $2 billion, Reuters reports. The deal, which was reported earlier by Bloomberg and the Hindu, includes divestment of RMZ’s co-working business CoWrks. RMZ will have zero debt after the deal that involves its rent-yielding offices and co-working spaces. “The deal marks the largest-ever deal in the Indian real estate industry,” RMZ said in a statement.
Source: https://www.reuters.com/article/rmz-divestiture-brookfield-asset/indian-developer-rmz-sells-real-estate-assets-to-canadas-brookfield-for-2-billion-idUSKBN27504W