New York City-based private equity firm Warburg Pincus is negotiating a deal with Mumbai developer Runwal Group to invest $1 billion in real estate projects. Warburg and Runwal may each make an equity contribution of $250 million to the investment platform while the rest will be raised through leveraging. The platform will invest in up to twenty retail-led mixed-use projects in tier-I and tier-II cities in India.
India’s biggest owner of office buildings, New York City-based Blackstone Group, is in the final stages of a deal to acquire One BKC a commercial project in Mumbai’s Bandra Kurla Complex area for $500 million. One BKC has an area of 1.5 million square feet and houses companies such as Facebook, Amazon, Bank of America and Cisco.
