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RMZ Corp sells real estate assets to Brookfield Asset Management

Tuesday, 20 Oct 2020
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Bengaluru-based RMZ Corp has sold 12.5 million sq ft of real estate portfolio and co-working business to Brookfield Asset Management for USD two billion (around Rs 14,680 crore).

The realty firm has sold over 18 percent of its total portfolio of 67 million sq ft. The deal includes divestment of co-working business CoWrks.

RMZ Corp has decided to divest a part of its core portfolio across Bengaluru and Chennai to raise USD two billion of fresh capital.

The company portfolio, including developed and under development, has assets worth USD 10 billion.

With this deal, global investment firm Brookfield Asset Management will further strengthen its portfolio in the Indian real estate market.

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