Linklaters advises on India’s largest real estate deal of the year

Linklaters has advised Brookfield Property Partners on the acquisition and related financing of the entire interest in a portfolio owned by Unitech Corporate Parks and IDFC Limited. The portfolio comprises six IT and Special Economic Zones projects with two in Gurgaon, three in Noida and one in Kolkata. The purchase price for the portfolio was partly funded by a US$220,000,000 term loan facility by Brookfield and the onshore debt was refinanced following the acquisition. The offshore debt financing makes it one of the largest acquisition financing facilities for a real estate asset in India by an international investor.

Narayan Iyer, Head of Linklaters’ India group, said: “This investment was a significant acquisition and related financing transaction in the booming real estate markets in India and the largest of its kind in 2014-2015. This marks Brookfield’s first major investment into India and confirms the trend of increased activity among international investors in the Indian real estate space. We expect this sector to continue to be of interest given India’s growth projections and the related demand for investment.”

Brookfield is one of the world’s largest real estate companies and has $175 billion worth of assets under management.

The Linklaters team advising Brookfield on all aspects of the financing was led by Linklaters’ Head of India, Narayan Iyer and Banking managing associate Sudhir Nair. The term facility was provided by a club of banks which included Deutsche Bank AG, Singapore Branch, HSBC, and Standard Chartered Bank and original lenders.

For more information please contact Surinder Sian on 0207 456 4842.