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Brookfield India Real Estate Trust REIT informs about board meeting

18 Dec 2021 Evaluate
Brookfield India Real Estate Trust REIT has informed that the Board of Directors of Brookprop Management Services (Manager), the manager to Brookfield India Real Estate Trust (Brookfield India REIT), at its meeting held today Friday, December 17, 2021 through audio-visual electronic communication has, considered and approved the following: Acquisition of Seaview Developers (SDPL Noida) which owns Candor Techspace N2, a special economic zone located in Noida, India comprising of leasehold rights over approximately 29.65 acres of an office park consisting of 13 completed buildings totaling to approximately 3.6 million square feet (msf) of completed office area, 0.2 msf of under construction area and 0.8 msf of future development potential, subject to the approval of the unitholders of Brookfield India REIT (Unitholders) under Regulation 22(5) of the SEBI (Real Estate Investment Trusts) Regulations, 2014, together with the notifications, circulars, guidelines and clarifications issued thereunder, each as amended from time to time (the REIT Regulations), regulatory authorities and other approvals, and completion of conditions precedents, as applicable, for an acquisition price of ? 39,663 million (subject to adjustments in relation to net debt, working capital and other adjustments as agreed among the parties), through the purchase of 100% of the equity shares and compulsory convertible debentures of SDPL Noida from existing shareholders of SDPL Noida i.e. BSREP India Office Holdings IV Pte (BSREP IOH IV) and BSREP India Office Holdings Pte. (collectively the Sellers) subject to and in accordance with the terms of the share acquisition agreement entered into with the Sellers and any other document(s), as amended and supplemented thereto, and the provisions of the REIT Regulations, and other applicable law (N2 Acquisition). Details of N2 Acquisition are enclosed as Annexure A.

The above information is a part of company’s filings submitted to BSE.

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