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

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