South India focussed developer, INDIS (formerly INCOR Group) today announced the closure of an Rs 1,000 crore transaction with Brookfield Asset Management. The deal will fuel INDIS’s strategy of aiming to grow their housing portfolio in the mid-market segment in South India based urban locations.
G Anand Reddy, Founder, INDIS, said, "This transaction will help us grow our portfolio of operating projects at a faster pace while creating more value for stakeholders, especially our customers. A portion of the deal will also be used to give an exit to some of the current investors."
The transaction represents an Rs 1,000 crore investment in five residential projects under development in South India from Brookfield’s Special Investment Fund (BSI).
The investment is in the form of structured capital with base returns and an equity upside. Brookfield’s BSI Fund was set up to invest in large-scale, non-control, equity and equity-like investments with a sector agnostic strategy. This investment provides INDIS with additional liquidity to accelerate the development of projects in a fundamentally strong residential market.
Dev Santani, Managing Director, Brookfield Asset Management. “This is the fourth transaction with INDIS. BSI continues to scale up its business in India and is evaluating multiple opportunities across sectors including financial services, industrials and real estate.”
