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."