Brookfield India Real Estate Trust (BSE:543261) agreed to acquire Candor TechSpace N2 from BSREP India Office Holdings Pte. Ltd. and BSREP India Office Holdings IV Pte Ltd for INR 39.7 billion on December 17, 2021. The acquisition will be financed through a combination of preferential issue of INR 9.5 billion at a price of INR 294.25 per unit, and a property level debt issue of INR 29.1 billion at 6.78% per annum. In finnacial year 2020-21, the property reported a turnover of INR 2440 million. The acquisition is subject to certain conditions precedent including inter alia obtaining lender consents, Unitholder's approvals and regulatory approvals. Acquisition is accretive on NOI and NDCF basis to Unitholders. BofA Securities acted as financial advisor and placement agent to Brookfield India REIT. Shardul Amarchand Mangaldas & Co acted as legal advisor and PricewaterhouseCoopers acted as financial and tax advisor to Brookfield India REIT. Veritas Legal acted as legal advisor to Brookfield Group. Kotak Mahindra Capital Co. Ltd provided a fairness opinion to the independent Directors of the manager to Brookfield India REIT for the proposed acquisition.

Brookfield India Real Estate Trust (BSE:543261) completed the acquisition of Candor TechSpace N2 from BSREP India Office Holdings Pte. Ltd. and BSREP India Office Holdings IV Pte Ltd on January 24, 2022.