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INDIS (formerly INCOR Group), a housing development company, has announced the closure of a ₹ 1,000-crore transaction with Brookfield Asset Management.
The Hyderabad-based company said the deal would help it grow its housing portfolio in the mid-market segment in urban locations in the South.
“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,” G Anand Reddy, Founder of INDIS, said.
The proceeds from Brookfield’s Special Investment Fund (BSI) would be utilised on five residential projects with an aggregate space of 6.5 million sq ft under development in the South.
“This is the fourth transaction with INDIS. We are evaluating multiple opportunities across sectors including financial services, industrials and real estate,” Dev Santani, Managing Director of Brookfield Asset Management, has said in a statement.
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