BENGALURU: Commercial office space developer RMZ is selling a large part of its operational portfolio to Brookfield Asset Management for $2 billion to reduce debt. It’s one of the biggest deals in the Indian real estate market. RMZ’s co-working business, CoWrks, will also go to Brookfield. The commercial office space business, including the co-working category, has been adversely hit by the Covid-19 pandemic. As part of the agreement, RMZ will sell 12.5 million sqft of the 67 million it owns in Bengaluru and Chennai.

— The Times of India

AZB & Partners advised RMZ Corp - CapitalM Investments Pte Ltd (“CapitalM”) ;; led by a team of partners Sai Krishna Bharathan, Shivani Kabra, Kunal Kumbhat and Hemangini Dadwal, senior Assocaites Sampriti Sridhar, Akshat Kulshrestha.

2020-10-18

Deal value: $2bn

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.