Brookfield nears deal for Adani's BKC tower

Sale likely at 1,000-2,000 cr; may be finalized over next few weeks

- Beena Parmar

Canadian private equity firm Brookfield Asset Management is in advanced talks to acquire Adani Realty's commercial office building in Mumbai in a deal worth ₹1,000-2,000 crore ($120-$240 million), two people aware of the matter said.

Adani Realty's 'Inspire BKC' project is located in the financial capital's suburban district of Bandra Kurla Complex (BKC). The 10-storey office building comprising more than 800,000 sq. ft. was on sale for the past five years, but "was stuck due to technical issues and valuation expectations", one of the persons said.

The sale was stuck on valuation and occupancy certificate issues but is now likely to be finalized over the next few weeks, the second person said.