Shardul Amarchand Mangaldas & Co. advised Brookfield Asset Management, through its flagship real estate funds Brookfield Strategic Real Estate Partners V and Brookfield Strategic Real Estate Partners Asia, on a significant transaction involving a control investment in equity shares; and a primary investment in non-convertible debentures in BSS Property Ventures Private Limited and Rajeshwar Property Ventures Private Limited (Project Companies).

The SAM transaction team was led by Jay Gandhi, Partner; Namrata Mehta, Principal Associate; Akshath Vidyanath, Senior Associate; Shruti Khetan, Senior Associate; Samyukta Shetty, Associate; Yashvardhan Mittal, Associate; and Mahinder Udasi, Associate.

The Client was also assisted on key aspects by Veena Sivaramakrishnan, Partner; Mohit Bhatia, Partner; Bhoumick Vaidya, Partner; Lalan Gupta, Partner; Atika Vaz, Partner; Yash Kahandole, Senior Associate; Karina Katrak, Associate; Disha Khandelwal, Associate; and Rohit Iyengar, Associate.

DSK Legal advised Brookfield on real estate aspects.

The counterparties were advised by Vatsal Merchant and MDP Associates, Advocates & Solicitors led by Ashok Paranjpe.

The Project Companies own 6 acres of prime land in Powai, Mumbai, along with permissible FSI of over 1 million square feet, and are valued at approximately $100 million.

The transaction involved a multifaceted debt resolution, and the closing was achieved through an escrow mechanism as part of which various lenders and charge holders of the Promoters and Project Companies were paid.

This investment underscores Brookfield's commitment to strengthening its presence in Mumbai's commercial real estate market, which currently encompasses approximately 55 million square feet across India, with around 9 million square feet in Mumbai alone.

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