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Redbrick Offices acquires properties in Mumbai for Rs 267-cr

Thursday, 11 Jul 2024
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Coworking space provider Redbrick Offices has acquired commercial properties spread over around nearly 90,000 sq. ft. in Marol locality in Andheri, Mumbai for over Rs 267 crore.

This office space is spread over three floors in 'Times Square' complex, and has been acquired through its subsidiary Red Fox IT Infra from Ajmera Group entity NTPL Developers. The deals for a total of 22 offices across three floors of the tower were registered on 03 May, and 08 May, 2024. The company has paid stamp duty of over Rs eight crore towards registration.

Redbrick has a portfolio of managed commercial properties across four cities including Mumbai, Bangalore, Pune, and Hyderabad with a combined area of over 3.5 million sq. ft. The company is working on a plan to expand its portfolio to over five million sq. ft. in 2024 and 2025.

The company has a portfolio of managed assets worth Rs 5,000 and is also a landlord in several properties with an owned portfolio worth over Rs 1,000 crore. Of this portfolio, the company manages offices spread over one million sq. ft. at Bandra-Kurla Complex, Lower Parel, Andheri, Powai, Goregaon and Vikhrol in Mumbai.

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