Embassy REIT raises fund from Bajaj Housing Fin to repay loans

Embassy Office Parks REIT has secured a Rs 10 billion term loan from Bajaj Housing Finance to primarily repay existing debt. Embassy REIT stated that the proceeds of this debt raise will be used primarily to repay existing construction debt and for general corporate purposes.

Embassy REIT saves money on interest with this refinance thanks to a refinancing spread of 60 basis points (bps), and the long tenor loan helps extend its debt maturity profile.

Amidst a rising interest rate environment, we are pleased to announce this debt raise of Rs 1,000 crore from a marquee NBF..

Brookfield India REIT to Acquire Bharti's Stake in Realty JV

Brookfield India Real Estate Trust (BIRET) is set to acquire nearly 50% stake in a real estate joint venture with Bharti Enterprises. This joint venture, Rostrum Realty Private Limited, includes properties across Delhi-NCR. The transaction is valued at approximately ?6,000 crores. Last year, Brookfield Asset Management already acquired a similar stake in four Bharti commercial properties.

With this acquisition, Brookfield?s REIT in India and Brookfield Asset Management will collectively control Rostrum Realty. This move is part of Brookfield's strategy to expand its real estate portfoli..

DLF Ventures into Mumbai, Goa with Luxury Homes This Year

DLF, India's leading real estate developer, is set to enter the luxury housing markets of Mumbai and Goa by the end of this financial year. The company plans to introduce high-end residential projects, marking its first significant ventures in these regions.

In Mumbai, DLF will launch a premium condominium project in Andheri, featuring luxury apartments priced between ?6 crore and ?8 crore. This development signifies DLF's re-entry into Mumbai's real estate market after a long hiatus. The project aims to cater to the burgeoning demand for luxury homes in India's financial capital.