Prestige Estates Projects is in final round of discussions to buy 62% stake in Exora Business Park from private equity fund Red Fort Capital. Prestige Group developed the prime office space with Red Fort Capital and owns 38 per cent stake in the property. Located in Marathahalli, Exora Business Park is spread over 22 acres. The fully leased-out business park consists of three buildings with 3 million sq ft of built-up area and 2.12 million sq ft of leasable area.
Foreign funds such as Brookfield, Xander Group, Blackstone Group, Canada Pension Fund, GIC Singapore and Morgan Stanley are also in the race to purchase the private equity fund's holding in the commercial property.
Prestige Estates Projects commenced operations as a partnership firm constituted under the Indian Partnership Act, 1932 on April 1, 1986 under the name and style of Prestige Estates and Properties.
