Essar sells "Equinox Business Parks" to Brookfield for Rs 2,400 cr

Mumbai April 24 (IANS) Essar Group on Tuesday announced that it has completed the sale of "Equinox Business Parks" to Brookfield Asset Management for an enterprise value of Rs 2 400 crore.

According to the company the commercial property spread across nearly 10 acres is located in Mumbai s Bandra-Kurla Complex (BKC) and comprises of four towers with a leasable office space of about 1.25 million sq ft.

"In 2006 Essar was a licensee in the Park. Later realising the potential of BKC in the commercial real estate space it acquired the towers and ultimately the entire Park in the period between 2008 and 2012 " the company said in a statement.

"Over time Essar developed the Park as among the few corporate parks in Mumbai with campus-like facilities. These facilities include a Commerce Centre club house food court cafeteria banquet hall and parking."

--IANS
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