Brookfield sole bidder for Jet Airways’ office in BKC – ET RealEstate

MUMBAI: Global asset management firm, Brookfield Asset Management emerged as the sole bidder in the e-auction of two floors of office space belonging to Jet Airways in the Godrej BKC building at Bandra-Kurla Complex on Friday, offering the base price of Rs 490 crore, real estate industry sources said.

β€œYes, Brookfield has made the sole bid at the base price,” said a source closely associated with the auction, refusing to give more details.

Brookfield Asset Management owns, develops and manages 282 office properties and 138 million sqft of commercial space globally.

The Jet Airways office on the third and fourth floors, measuring 1,69,843 sqft, of Godrej BKC went under the hammer after the National Company Law Tribunal gave its approval for auctioning immovable assets of the airline on June 11. The reserve price was fixed at Rs 490 crore.

Godrej BKC is developed by Godrej Property Ltd on Jet Airways land, and the two floors were mortgaged to HDFC.

Real estate sources told Mirror that a leading private bank and a real estate fund of a listed developer were the other contenders who had made enquiries regarding the property.

Mirror had on June 19 reported that the auction had piqued the interest of prominent corporate entities and the reserve price translated into a rate of Rs 28,900/sqft, which was 25 per cent lower than the last big market transaction at Bandra-Kurla Complex, which closed at the rate of Rs 36,500/sqft.

Brookfield Asset Management could not be contacted for a comment.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *