Sector: Real Estate
REITs raise $750M capital in October, down 99.99% Y/Y
REITs raised merely $750M of capital in October, a decrease of 99.99% from $6.84B in the year-ago period, according to a report by the National Association of Real Estate Investment Trusts. Only 1 capital offering instrument, of secondary debt, was offered during the month, compared to 16 instruments a year ago. Realty Income (O) priced … Read more
Mahindra and Actis partner to develop industrial and warehousing facilities
Mahindra Lifespaces (ML), a 51.33% subsidiary of M&M is partnering with Actis to own and operate industrial and warehousing real estate facilities in India. Partners will jointly invest in Asset Owning SPVs (SPVs) as well as Operating Company which will provide service to those Asset Owning SPVs. In both kinds of entities, ML plans to … Read more
Debenture holders’ plea to NCLT against Peninsula not admitted
As per the newspaper reports, debenture holders have approached NCLT invoking insolvency proceeding against Peninsula Land (PL). Plea is due to default by one of the SPVs of PL on it’s payment obligations towards the debenture holders in July 2021. Debenture holders had invoked corporate guarantees worth Rs 117 crore provided by PL. As per … Read more
Blackstone to sell $400 mn stake in REIT Embassy, ADIA eyes investment
Blackstone will sell a stake worth up to $400 million in Embassy Office Parks REIT, the country’s biggest real estate investment trust, via stock exchange block deals, three sources familiar with the matter told Reuters. Abu Dhabi’s sovereign wealth fund, one of the world’s largest, is likely to pick up at least half of the … Read more
‘Story of Noida twin towers’: What led to demolition of Supertech buildings
The Supertech Twin Towers in Noida, also deemed as the India’s tallest building Noida Twin Towers, will be demolished on 28 August, Sunday following a directive from the Supreme Court of India. The final check-up of explosives and related arrangements for the demolition of the Noida twin towers are underway on Saturday, the project officials … Read more
Arvind SmarSpaces and HDFC RE Fund partner for residential development.
Arvind SmartSpaces Limited (ASL) and HDFC Capital Advisors (HDFC) have partnered to create a separate platform for the residential development. Key points to note – Subject platform will be a 100% subsidiary of ASL. Total fund infusion is envisaged at Rs 900 crore in multiple tranches as and when required Rs 300 crore from ASL … Read more