CPP Investments and Greystar have allocated approximately US$840 million in equity to the joint venture. CPP Investments will own a 95% stake and Greystar will own the remaining 5%.
Read more about Phoenix Mills and Canada Pension to further infuse capital up to Rs 800 cr in ISML on Business Standard. The Company and CPPIB had earlier in April 2017, entered into definitive agreements to develop, own and operate retail led mixed used developments across India and pursuant to which CPPIB hadacquired 49% holding in ISML with 51% being held by the
RMZ Corp, one of Asia s largest privately-owned real estate owners & developers and Canada Pension Plan Investment Board ( CPP Investments ) announced today that they have entered into a joint venture to develop and hold commercial office space in Chennai and Hyderabad. CPP Investments will invest Rs 15,000,000,000 (USD 210 million), which will allow for the expected development of 10.4 million square feet of high-quality commercial office sites. RMZ is widely recognized as one of the most innovative and prolific developers in Asia, dedicated to working to the highest standards across all aspects of the real estate equation. The partnership with CPP Investments, a globally respected institutional investor, will only strengthen our vision of achieving our hyper-growth strategy target of RMZ 2.0, said Manoj Menda, Corporate Chairman, RMZ Corp. The value of the partnership assets, once developed, is estimated to be over USD 1.5 billion .