RDB Primarc Techno Park LLP, an affiliate of the Primarc & RDB Group, has agreed to acquire the business operations of DLF Techpark 1 from DLF Infocity Developers for around INR 638 crore on a slump sale basis. The deal covers both the property and its related business services, including rental, property management, and fit-out. The IT park, located in Kolkata, spans 1.49 million square feet of leasable space. JLL facilitated the transaction, with Fox & Mandal advising RDB Primarc, while Shardul Amarchand Mangaldas & Co and PwC represented DLF.
RDB Primarc Techno Park LLP, a prominent entity within the Primarc & RDB Group, has taken a significant step in expanding its business operations by entering into agreements to acquire the business undertaking of DLF Techpark 1. This acquisition is from DLF Infocity Developers (Kolkata), a subsidiary of DLF Cyber City Developers, which is one of the largest real estate development firms in India. The total value of the transaction is estimated to be around INR 638 crore, and the deal will be executed on a slump sale basis. A slump sale means that the entire business operation is being transferred as a whole, including all assets and liabilities, rather than on a piecemeal basis.
JLL, a global real estate advisory firm, played a key role in facilitating the deal, serving as the transaction advisor to both parties involved. Fox & Mandal, a well-known law firm, provided legal counsel to RDB Primarc in this transaction. The scope of the acquisition not only includes the immovable property (the physical land and structures of DLF Techpark 1) but also encompasses the entire set of business operations associated with the park. These operations include various services such as rental management, common area maintenance (CAM), property management, fit-out services, and other operational support currently being provided at DLF Techpark 1.
DLF Techpark 1, located in Kolkata, is a key asset in the city's commercial real estate sector. The IT park spans a substantial gross leasable area of approximately 1.49 million square feet, making it one of the major commercial hubs in the region. It is designed to cater to the growing demand for office spaces by technology firms and other businesses seeking high-quality, well-managed spaces. The park offers a variety of amenities and services that make it an attractive location for tenants in the IT and corporate sectors. Shardul Amarchand Mangaldas & Co, a leading law firm, along with PwC (PricewaterhouseCoopers), a global financial services firm, represented DLF in this transaction. These two firms provided legal and financial advice, respectively, ensuring that the transaction was structured and executed efficiently.
The acquisition by RDB Primarc Techno Park LLP is a strategic move aimed at enhancing the group's presence in Kolkata's thriving real estate market. The deal also reflects the growing trend of consolidation in the commercial real estate sector, particularly in IT parks and business hubs, where demand for well-managed office spaces is expected to continue rising in the coming years. This acquisition further strengthens RDB Primarc's position in the competitive market and paves the way for future expansion within the commercial real estate domain.
This acquisition marks a significant move for RDB Primarc Techno Park LLP as it expands its portfolio in the commercial real estate sector. With a gross leasable area of 1.49 million square feet, DLF Techpark 1 offers substantial potential for future growth and rental income. The deal highlights the continued demand for prime IT park spaces in Kolkata, with the involvement of key advisors ensuring a smooth transition. The acquisition reflects broader trends of consolidation in the real estate sector, driven by strategic investments in high-demand commercial properties.
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